WINNIPEG, Nov. 13, 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 the United States and Canada, announced today that Alameda Contra Costa Transit ("AC Transit") located in Oakland, CA has approved the purchase of 23 (46 equivalent units or "EUs") Xcelsior diesel 60-foot heavy-duty articulating buses.
The order for 23 buses (46 EUs) was placed using options from another US transit authority. The original contract signed June 4, 2012, enables the assignment of up to 155 options of which 130 still remain after this procurement and are currently included in New Flyer's backlog.
From 1988 to1997, New Flyer manufactured 168 high-floor modeled 40- and 60-foot heavy-duty diesel buses for AC Transit. Today, AC Transit's active fleet size consists of nearly 700 buses in an array of bus lengths and servicing a variety of routes. The 23 articulated buses, once in service will account for 18% of AC Transit's 60 foot articulated fleet.
"Our new purchase of Xcelsior buses will keep in line with our mission to provide safe, reliable and efficient public transit service in the East Bay," said David Armijo, General Manager, AC Transit.
"The last New Flyer buses acquired by AC Transit were high-floor models," said Paul Soubry, New Flyer's President and Chief Executive Officer. "We are confident AC Transit will enjoy our low-floor Xcelsior bus as it provides greater accessibility, improved fuel efficiency, reduced interior and exterior noise and improved styling amenities."
Production of the twenty-three buses is anticipated to begin in March 2013, with delivery expected by August 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company's three manufacturing facilities - in St. Cloud, MN 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 parts distribution centers in Erlanger, KY; Fresno, CA; Winnipeg, MB and Brampton, ON. The Company also operates a service center in Arnprior, 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 32,000 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 the Company 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 purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to terminate contracts for convenience 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, the Company disclaims 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.
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