Region of Waterloo, Grand River Transit awards New Flyer a contract
for one hundred twenty-three 40-foot Xcelsior buses
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 Grand
River Transit from the Region of Waterloo located in South-Western
Ontario ("GRT") has awarded New Flyer a five-year contract for up
to123 40-foot Xcelsior clean diesel powered buses. The
contract consists of a firm order of 18 buses and options for an
additional 105 buses over the term of the contract.
New Flyer has built buses for GRT dating back to
1992, with its industry standard setting low-floor (LF) transit
bus. This contract is for New Flyer's 'best in class' next
generation Xcelsior transit bus.
"New Flyer is proud to once again be building
buses for GRT, and is committed to continuing our strong and
cooperative relationship," said Paul
Soubry, New Flyer's President and Chief Executive
Officer. "Our commitment to GRT is to provide world class
support for GRT's transit operation and best value for the citizens
of Waterloo Region. We stand proudly behind our lifetime customer
care program, the most comprehensive warranty, service, training,
and spare parts support in the industry."
The initial order for 18 40-foot Xcelsior buses
will begin production in the first quarter of next year and is
expected to be delivered in the second quarter of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses
in Canada and the United States. The Company's three
manufacturing facilities - in Winnipeg,
MB; St. Cloud, MN and
Crookston, MN - 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 Winnipeg, MB;
Brampton, ON; Erlanger, KY and Fresno, CA. 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 Canada and the
United States. 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.
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 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.