WINNIPEG, Feb. 18, 2014 /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, signed an agreement today with ABC Companies, Inc. ("ABC") to serve as the exclusive distributor of New Flyer's MiDi® and Xcelsior® transit bus models to United States private bus and shuttle operators.
Under the terms of the agreement, ABC will market, sell and provide after sales service for New Flyer's MiDi® and Xcelsior® transit buses through its established service locations and select independent dealerships. All New Flyer products purchased through ABC will be fully supported by New Flyer's industry leading warranty, genuine New Flyer spare parts, and lifetime customer care programs.
"This is a great opportunity for New Flyer to respond to private customer demand and expand our market reach in the United States," stated Paul Smith, New Flyer Executive Vice President Sales and Marketing. "The addition of New Flyer's best selling transit buses to ABC's current portfolio of highway coaches, light-duty cutaway buses, and refurbishment services provides a comprehensive solution for private bus operators."
The New Flyer MiDi® is a mid-sized, low-floor, clean diesel powered bus that is ideal for use in community, airport, university and hotel shuttle services. Available in 30' and 35' lengths, the streamlined design of the MiDi® provides greater maneuverability while maintaining excellent accessibility for passengers with one or two doors and a 1:6 slope wheelchair ramp. Substantially lighter than vehicles in its class, MiDi® was developed through a joint venture with Alexander Dennis, and is based on its proven E200 design with over 16,000 vehicles deployed worldwide.
The New Flyer Xcelsior® is a heavy-duty; low floor bus that is ideal for use in rigorous duty cycles and provides higher passenger capacities. Available in 35', 40' and 60' lengths, the Xcelsior® is offered with clean diesel, compressed natural gas, and diesel electric hybrid propulsion systems.
"ABC is excited to partner with New Flyer to offer the Xcelsior® and MiDi® to the US private bus market," said Dane Cornell, ABC Chairman and CEO. "New Flyer's reputation for quality, reliability and innovation, aligns with our mission of providing market leading solutions to our customers."
ABC will offer New Flyer models through their Specialty Vehicles Division, headed by Mr. Roman Cornell, Senior Vice President, ABC Companies. As a third generation participant in the family-owned business, Mr. Cornell brings 20+ years of industry experience to the company's sales and marketing efforts. "ABC is committed to offering our customer base an expansive selection of transport solutions to support their fleet's unique requirements", stated Cornell. "The ABC/New Flyer alliance complements our overall strategy to offer a diverse range of equipment solutions, and we're pleased to offer New Flyer's wide range of vehicle options to our customers, along with the industry leading after sales support for which ABC is known."
The MiDi® and Xcelsior® models have been designed to deliver life-cycle savings, offering industry leading reliability, better fuel economy, and lower maintenance costs, by incorporating features such as weight optimized structures, disc brakes and long lasting LED headlights. New Flyer vehicles meet or exceed all applicable US regulations, including FMVSS, ADA, Buy America requirements, and the Federal Transit Administration's new model bus testing program in Altoona, PA.
The New Flyer MiDi® and Xcelsior® bus models will both be available for sale at all ABC's North American sales locations.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC subsidiary, is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line including drive systems powered by: clean diesel, natural gas and electric trolley as well as energy-efficient diesel-electric hybrid vehicles. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer and its subsidiaries NABI Bus, LLC and NABI Parts, LLC also operate the transit industry's most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of heavy-duty transit buses.
The New Flyer group of companies employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Further information is available on New Flyer's web site at www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of the Company are traded on the Toronto Stock Exchange under the symbols NFI and NFI.DB.U, respectively.
About ABC Companies
ABC Companies is a leading provider to the transportation industry with diverse product and service offerings that cover a full spectrum of operational needs including new and pre-owned full size highway coach equipment, mid-size shuttle transport vehicles, and advanced design heavy duty transit equipment. ABC supports customers with a comprehensive after sale service network for service and repairs, collision services, extensive OEM and quality aftermarket parts needs for transit, motorcoach and heavy-duty equipment from eleven (11) strategically placed locations throughout the U.S. and Canada. Additionally, private and municipal financing and leasing options are available through the company's financial services group - one of the largest financial service providers within the industry. For more information, contact ABC Companies at 800-222-2875 or visit the company web site at www.abc-companies.com
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, the existence and size of the mid-size transit bus market may be smaller than expected and might not be sufficient to support the existence of a new product, the sales volume generated by distributors of MiDi® may not be sufficient to ensure profitability for the product, the MiDi® has not yet been sold to a transit customer and there may be little to no market demand for the product 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.
For further information:
Jon Koffman, Investor Relations