WINNIPEG, June 21, 2012 /CNW/ - (TSX:NFI, TSX:NFI.UN, TSX:NFI.DB.U) New
Flyer Industries Inc. ("New Flyer" or the "Company"), the leading
manufacturer of heavy-duty transit buses in Canada and the United
States, announced the board of directors of the Chicago Transit
Authority ("CTA") has approved the purchase of two all-electric battery
heavy-duty transit buses. The total purchase price of the buses is
approximately US$2.2 million and was funded with the assistance of the
United States Department of Transportation's Federal Transit
Administration through the Transit Investments for Greenhouse Gas and
Energy Reduction (TIGGER) program and Clean Fuels Grant program.
"These will be the first battery-electric buses in CTA's fleet and our
first order after we unveiled our fully functional prototype just two
weeks ago," said New Flyer President and Chief Executive Officer, Paul
Soubry. "We're very excited to partner with CTA on this project and
fortunate to have these buses operated by a progressive organization
such as CTA to validate this clean propulsion approach."
The battery-electric propulsion system builds on New Flyer's successful
advanced, light weight Xcelsior model 40-foot transit bus. CTA's
battery-electric bus will feature the latest in electric traction
drives and components supplied by Siemens, including a high efficiency
permanent magnet traction motor, inverters, voltage protection modules,
junction boxes and the application software.
The CTA will begin a pilot program with the buses, which are expected to
be delivered in 2013, to understand how the bus will operate, not only
on regular routes, but in the tough climate conditions of Chicago.
These buses are zero-emission vehicles that utilize the city's power
grid to charge the batteries. Since pure electric heating in the cold
Chicago winters would dramatically reduce the buses' range, a
supplementary bio-diesel heater will be installed in the buses to keep
the passengers comfortable, while preserving range. Chris Stoddart, New
Flyer's Vice President, Engineering Services explained, "We will be
monitoring these buses very closely in partnership with CTA and using
the data to enhance and refine future designs."
This announcement builds on the recent news of the official unveiling of
New Flyer's battery-electric bus on June 1, 2012, though a partnership
with the Manitoba Government, Mitsubishi, Manitoba Hydro and Red River
NOTE: All dollar amounts are stated in US currency.
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 four
PDCs in Winnipeg, MB; Erlanger, KY; Fresno, CA and Brampton, ON.
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.
New Flyer has delivered over 31,000 heavy-duty buses in Canada and the
United States. All products are supported with an industry-leading,
comprehensive parts and service network.
Further information is available on New Flyer's web site at www.newflyer.com.
The common shares, income deposit securities and convertible unsecured
subordinated debentures of New Flyer are traded on the Toronto Stock
Exchange under the symbols NFI, NFI.UN and NFI.DB.U, respectively.
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
customers to purchase buses and to exercise options for buses and to
purchase parts or services, no production version of the bus has yet
been produced, the bus has not undergone any testing, there is no
operating experience with the bus 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 CANADA ULC
For further information:
New Flyer Industries Inc.
Glenn Asham, Chief Financial Officer