WINNIPEG, June 21, 2011 /CNW/ - New Flyer Industries Inc. (TSX:NFI.UN)
("New Flyer" or the "Company"), the leading manufacturer of heavy-duty
transit buses in Canada and the United States, announced today that it
has been selected to supply up to 27 heavy duty transit buses for the
City of Sorel, Quebec, of which 12 are firm orders and 15 are options.
This award marks the first sale of New Flyer low-floor buses to a
Quebec-based transit agency since 1970, and is a direct outcome of the
appointment of A. Girardin Inc. of Drummondville, Quebec announced on
May 3, 2011, to sell and support New Flyer buses in the Province of
New Flyer will provide La Régie de la Gare de Sorel the latest
generation 40-foot Xcelsior model buses, powered with clean, efficient
diesel engines. Girardin will provide local pre-delivery inspection
services, field support, and parts support.
"We are absolutely thrilled to have taken this first step toward
establishing a New Flyer presence in Quebec, a province in which we
have not been able to sell buses for many decades," said Paul Soubry,
New Flyer's President and CEO. "We are confident that the New Flyer
buses will be well-received and will set a new standard for transit
systems and private operators in the region. The combination of New
Flyer buses and local Girardin service and support now provides an
option for Quebec-based operators. We also believe that the selection
of Xcelsior by the Transit Authority in Sorel validates the benefits of
this high-quality bus with its light weight design and enhanced styling
and maintenance features as well as a reduced operating cost profile so
critical to today's transit operators."
Dave Girardin, President and CEO of A. Girardin Inc. added, "The
contract for Sorel will help us blaze new frontiers into the heavy-duty
segment of this market, just as we had anticipated when we established
our alliance with New Flyer less than two months ago. Together, we can
bring enhanced value to the Quebec transit operators."
The first buses in this order are scheduled for delivery to Sorel in the
fourth quarter of 2011.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. The Company's three manufacturing
facilities - in Winnipeg, MB; St. Cloud, MN; and Crookston, MN - are
all ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company
currently operates a parts fabrication facility in Elkhart, IN and
three parts distribution centers (PDC) in Winnipeg, MB; Erlanger, KY;
and Fresno, CA. A fourth PDC is expected to open in Ontario in 2011.
With a skilled workforce of over 2,000 employees, New Flyer is a
technology leader, offering the broadest product line in the industry,
including drive systems powered by clean diesel, LNG, CNG and electric
trolley as well as energy-efficient diesel-electric hybrid vehicles.
All products are supported with an industry-leading, comprehensive
parts and service network. The Company's income deposit securities are
traded on the Toronto Stock Exchange under the symbol NFI.UN. Further
information is available on New Flyer's web site at www.newflyer.com.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of New Flyer
and New Flyer Industries Canada ULC ("NFI ULC") that involve risks and
uncertainties. Although the forward-looking statements contained in
this press release are based upon what management believes to be
reasonable assumptions, investors cannot be assured that actual results
will be consistent with these forward-looking statements, and the
differences may be material. Actual results may differ materially from
management expectations as projected in such forward-looking statements
for a variety of reasons, including market and general economic
conditions and economic conditions of and funding availability for
transit agencies to purchase buses, parts and services, customers may
not issue purchase orders for all or any of the buses available under
open purchase contracts such as the one discussed in this press release
and the other risks and uncertainties discussed in the materials filed
with the Canadian securities regulatory authorities and available on
SEDAR at www.sedar.com. Due to the potential impact of these factors, New Flyer and NFI ULC
disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.
SOURCE New Flyer Industries Inc.
For further information:
New Flyer Industries Inc.
Chief Financial Officer