WINNIPEG, Feb. 16, 2017 /CNW/ - (TSX: NFI) (TSX: NFI.DB.U) New Flyer of America Inc., a subsidiary of New Flyer Industries Inc. ("New Flyer" or the "Company"), the largest transit bus and motor coach manufacturer and parts distributor in North America, announced today that it has been awarded a contract to build 300 40-foot Xcelsior® compressed natural gas ("CNG") buses for Miami-Dade Transit.
The contract is part of a project launched by Miami-Dade County to replace 300 old diesel buses with new CNG vehicles. New Flyer was selected to manufacture the heavy-duty transit buses and to provide aftermarket support to Miami-Dade County as part of an innovative turn-key competition awarded to Trillium CNG (a Love's Company) to design, build, operate and maintain CNG fuel service stations, upgrade maintenance facilities, and supply CNG fuel to Miami-Dade Transit. While there are no options as part of this initial contract, Miami-Dade County may elect to add additional CNG buses in the future as part of the larger initiative.
"Our Miami-Dade County Mayor, Carlos A. Gimenez, and our County Commissioners have directed the Department of Transportation and Public Works to upgrade our Metrobus fleet with buses that are more sustainable and use greener fuel sources," said Alice N. Bravo, Miami-Dade County's Department of Transportation and Public Works Director. "By upgrading our fleet with CNG buses, we're implementing a cost-effective approach to the reduction of our dependency on petroleum-based fuel and lowering our maintenance costs."
Wayne Joseph, President, Transit Bus Business of New Flyer, noted "We are thrilled to be partnered with Trillium CNG on this very unique program (the first of its kind for New Flyer) to support the transformation of the Miami-Dade County transit bus fleet." He added, "Miami-Dade Transit has been a long time New Flyer customer, with currently more than 95% of its fleet are New Flyer, NABI and MCI vehicles."
Miami-Dade Transit is the 15th largest public transit system in the USA, and the largest transit agency in the state of Florida who provides service from Miami Beach and Key Biscayne to West Miami-Dade, as far north as Broward County and as far south as Homestead, Florida City and the Middle Keys.
The contract is valued at approximately $159 million and will be used to replace some of Miami-Dade's transit buses that have reached the end of their useful life. Delivery of these buses is planned throughout 2017 and 2018. Since 2010, Miami-Dade has been a customer of New Flyer and with the completed delivery of this order, Miami will have 346 New Flyer buses in their transit fleet.
About The Company
The Company is the largest transit bus and motor coach manufacturer and parts distributor in North America with fabrication, manufacturing, distribution and service centers in Canada and the United States and employs approximately 5,000 team members.
Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada ULC and New Flyer of America Inc., the Company is North America's heavy-duty transit bus leader and offers the broadest transit bus product line (Xcelsior® and MiDi® models), incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and now battery-electric. New Flyer actively supports over 42,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service.
Through its Canadian and U.S. subsidiaries, Motor Coach Industries Limited and Motor Coach Industries, Inc., the Company is North America's leader in motor coaches, offering the MCI J4500,which is the industry's best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry`s best-selling coach line in North American motor coach history. MCI is also the exclusive distributor of Setra S417 and S407 in the United States and Canada. MCI actively supports over 28,000 motor coaches currently in service and offers 24-hour roadside assistance 365 days a year.
The Company also operates North America's most comprehensive aftermarket parts organization providing support for all types of transit buses and motor coaches. All buses and coaches are supported by an industry-leading comprehensive warranty, service and support network.
Further information is available on the Company's websites at www.newflyer.com and www.mcicoach.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.
Forward-Looking Statements
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 suspend or 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.
Jon Koffman, Investor Relations, Tel: 204-224-6672
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