WINNIPEG, Nov. 9, 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 Rochester-Genesee Regional Transportation Authority ("RGRTA") has awarded New Flyer a contract for 129 40-foot clean diesel powered Xcelsior buses. The RGRTA board approved the contract for delivery of 33 firm buses with options for an additional 96 buses over the five-year term of the contract.
"New Flyer is delighted to continue building buses for Rochester-Genesee Regional Transportation Authority. They are such a great example of a dependable and progressive transit agency that focuses on high quality and best value over the life of a transit bus. Since 1999, New Flyer has proudly delivered 73 buses to RGRTA in a variety of lengths and models," said Paul Soubry, New Flyer's President and Chief Executive Officer. "RGRTA fleet will continue to have the full support of the New Flyer warranty, service, training, spare parts and lifetime Customer Care program."
The 33 Xcelsior buses will begin production immediately and are expected to be delivered in the second quarter of 2013. The buses will be completely manufactured and assembled at New Flyer of America's St. Cloud, Minnesota manufacturing facility.
RGRTA's active fleet size is approximately 250 buses, of which 29% are New Flyer buses.
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; 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. 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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