WINNIPEG, Aug. 7, 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 today that the Washington Metro Area Transit Authority ("WMATA") has awarded New Flyer an order to build 95 heavy-duty 40-foot hybrid diesel-electric powered buses.
The order for 95 Xcelsior XDE40 buses is a conversion of options under the existing contract with WMATA and follows upon the delivery to WMATA of 152 Xcelsior buses during 2011. These reliable, modern and fuel efficient vehicles are supported by New Flyer warranty, service and lifetime customer care.
"We are proud to be a partner that WMATA can continually rely on," said Paul Soubry, New Flyer's President and Chief Executive Officer. "This order builds on WMATA's successful experience with approximately 900 New Flyer buses currently operating in their fleet".
These 40-foot Xcelsior buses will begin production immediately and will be manufactured at New Flyer's Winnipeg, Canada and Crookston, Minnesota facilities over the next seven months, with all buses expected to be delivered before February, 2013. Once delivered, approximately 64% of the WMATA bus fleet will have been built by New Flyer.
This award was part of the group of orders for 483 new buses (613 EUs) and options for 40 buses (60 EUs) noted in the New Flyer press release of July 16, 2012 as pending from a number of customers where approval had been granted by the customer's board, council, or commission, as applicable, but purchase documentation had not yet been received by the Company and therefore not yet included in the backlog.
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 parts distribution centers 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 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