WINNIPEG, Feb. 11, 2013 /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 Rochester-Genesee Regional Transportation Authority ("RGRTA") has exercised options under an existing contract, signed August 2009 for 20 60-foot heavy-duty Xcelsior articulated clean diesel buses (40 equivalent units or "EUs"). The original contract was for 120 buses (240 EUs), of which 84 buses (168 EUs) still remain under that contract after these options are exercised and are included in New Flyer's backlog.
"We are very excited to build our 60' articulated Xcelsior bus for Rochester-Genesee Regional Transportation Authority. This announcement builds on their recent contact award to New Flyer for our 40' Xcelsior buses and demonstrates their commitment to industry leading quality and value," 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."
Ten of the twenty articulated buses are scheduled to begin production in the first quarter of 2013 with delivery anticipated to occur in the second quarter of 2013. The remaining ten will begin production and 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 heavy duty fleet size remains at 253 buses, after both the 33 bus New Flyer award, announced November 9, 2012 and the above 20 buses are built. These twenty New Flyer buses will be replacements for buses currently in RGRTA's fleet.
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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