WINNIPEG, May 21, 2014 /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 York Region Transit, has exercised options
to purchase an additional 34 clean diesel Xcelsior® 40-foot heavy-duty buses.
York Region Transit will purchase these buses using an umbrella contract
with the procurement department of the province of Ontario, Canada.
This umbrella bus contract held by New Flyer is a 'standing offer'
available to public transit agencies across the province, and as a
result, New Flyer does not reflect any quantities in its backlog until
specific orders are received from a customer.
Since 1989 New Flyer has delivered 225 low floor buses for York Region
Transit. With a fleet of approximately 335 heavy duty transit vehicles
today, York Region Transit serves an annual ridership of more than 22
million passengers. These additional clean diesel buses will replace
buses already in service that have reached the end of their useful
"New Flyer is proud of the opportunity to provide buses to York Regional
Transit for over the past quarter century," said Paul Soubry, New Flyer
President and Chief Executive Officer. "They are a very progressive
transit operator and since 1989, have progressed with New Flyer as we
evolve our product offering from the high floor to low floor bus
models, and now with our innovative market-leading Xcelsior."
The 34 Xcelsior® buses are anticipated to be manufactured in the second quarter of 2014
and delivered by the end of the third quarter of 2014.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC subsidiary, is the
leading manufacturer of heavy-duty transit buses in the United States
and Canada. The Company is the industry technology leader and offers
the broadest product line including drive systems powered by: clean
diesel, natural gas and electric trolley as well as energy-efficient
diesel-electric hybrid vehicles. All buses are supported by an
industry-leading comprehensive warranty and support program, and
service network. New Flyer and its subsidiaries NABI Bus, LLC and
NABI Parts, LLC also operate the transit industry's most sophisticated
aftermarket parts organization, sourcing parts from hundreds of
different suppliers and providing support for all types of heavy-duty
The New Flyer group of companies employ over 3,000 team members with
manufacturing, fabrication, parts distribution and service centers in
both Canada and the United States. Further information is available on
New Flyer's web site at www.newflyer.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.
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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