WINNIPEG, Jan. 29, 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 the Birmingham-Jefferson County Transit Authority ("BJCTA") has awarded New Flyer a contract for 50 Xcelsior compressed natural gas ("CNG") 40-foot heavy-duty buses.
The five year contract contains a firm order of 20 CNG buses with three options of up to 10 CNG buses each. In addition to the firm order for 20 buses, BJCTA is also exercising 10 option buses at this time. This award was part of the group of firm and option orders for 630 new buses (801 EUs) noted in the New Flyer press release of January 9, 2013 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.
With their current order of New Flyer buses, BJCTA continues its transition to an all-CNG transit fleet supporting its quest to reduce green house gas emissions. CNG propulsion is a cleaner, more efficient system than a standard diesel system, with such benefits as enhanced air quality and reduction in pollutants.
"BJCTA is in the process of replacing its entire fleet with state of the art compressed natural gas buses for the benefit of its riders and continuing its commitment to air quality and pollution control," said Ann Dawson August, Executive Director for Birmingham-Jefferson County Transit Authority. "Partnering with New Flyer on this project was a smart and simple decision."
"This is BJCTA's first order of New Flyer buses," said Paul Soubry, President and CEO of New Flyer. "We feel privileged to provide Birmingham with our 'best in class' Xcelsior bus and are proud to partner with an organization committed to the environment."
The 30 CNG buses are anticipated to begin production in the second quarter of 2013. All buses are expected to be delivered by the third quarter of 2013.
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 2,200 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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