WINNIPEG, Sept. 10, 2012 /CNW/ - (TSX: NFI) (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 today that San Francisco Municipal Transportation
Authority ("SFMTA"), which oversees all transportation in the City,
including the Municipal Railway (MUNI), has approved the purchase of 45
heavy-duty 40-foot Xcelsior diesel-electric hybrid buses.
New Flyer has a long-standing relationship with San Francisco that dates
back to 1988, with approximately 190 diesel and electric trolley buses
being built and delivered since then. San Francisco has a total fleet
size today of approximately 800 buses and trolleys, with New Flyer
buses representing approximately 8% of the active fleet. The 45 new
Xcelsior hybrids will replace 13 year old buses currently in service.
SFMTA will purchase buses from an umbrella contract with the procurement
department of another US State that enables the assignment of up to 500
options to any US transit agency. The contract enables the buses to
include the necessary components specific to San Francisco's operating
environment. This umbrella contract, which was announced in New
Flyer's press release on April 17, 2012, is a 'standing offer' open to
public transit agencies across the United States, and as a result, New
Flyer does not record any firm orders or options as part of its
"Investing in infrastructure and operations will help improve and
sustain our transit service for the long term," said Mayor Ed Lee.
"These new hybrids demonstrate our commitment to a green and clean
future for our City's transit system and will help improve transit
times and rider experience."
"These buses will allow for an improved Muni system," said Tom Nolan,
Chairman of the Board of Directors. "Not only will they make for better
service, but they will continue the work we are doing to be one of the
cleanest fleets in the country."
"We are proud to have been selected by San Francisco to provide New
Flyer's industry-leading Xcelsior Bus, which offers "Best in Class"
features such as improved accessibility with a 1 to 7 sloped ramp,
quiet and spacious passenger compartment amenities, maintenance access
and a greener, more clean environment," said Paul Soubry, New Flyer's
President and Chief Executive Officer.
Pending final approval from the SFMTA's Board of Supervisors, production
of these 40-foot Xcelsior hybrid buses is anticipated to begin in early
2013 and will be manufactured and assembled bumper-to-bumper in New
Flyer's US manufacturing facility at St. Cloud, MN. All buses are
expected to be delivered by the end of the summer 2013.
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 St. Cloud, MN; Crookston, MN; and Winnipeg, MB - are
all ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company
currently operates a parts fabrication facility in Elkhart, IN and four
parts distribution centers in Erlanger, KY; Fresno, CA; Winnipeg, MB
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 the United
States and Canada. 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 and convertible unsecured subordinated debentures of
New Flyer are traded on the Toronto Stock Exchange under the symbols
NFI 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 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