Nashville Metro Transit Authority awards New Flyer a contract for
70 60-foot Xcelsior articulated buses
WINNIPEG, MB,
Nov. 19, 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 the
Nashville Metropolitan Transit Authority ("Nashville MTA") has
awarded New Flyer a contract for 70 (140 equivalent units or "EUs")
Xcelsior diesel-electric hybrid 60-foot articulated heavy-duty
buses.
The 3 year contract, with 2 years of renewable
options, contains a firm order for 10 buses (20 EUs) with options
for an additional 60 buses (120 EUs). Nashville MTA is a new
customer for New Flyer and has an active fleet of approximately 150
heavy-duty transit buses.
"New Flyer is proud to have been selected by
Nashville MTA, for the first time, to provide our environmentally
friendly hybrid bus. This selection of the Xcelsior bus
reflects its heritage, quality, styling and maintainability
critical to their operating environment and their customer
requirements," said Paul Soubry, New
Flyer's President and Chief Executive Officer. "We are
committed to a strong and lasting relationship through New Flyer
warranty, service, training, spare parts support and our lifetime
customer care program."
"We are pleased to enter into this agreement
with New Flyer," said Paul J.
Ballard, Chief Executive Officer, Nashville MTA. "These new
buses are an important investment that will help us increase
services and enhance our customers' transit experience. This
purchase also demonstrates our on-going commitment to improving
public transit services in the region as well as our air quality.
We are on our way to becoming a more green-friendly transit
system."
The 10 buses are anticipated to begin production
in the first quarter of 2013 and will be completely manufactured
and assembled at New Flyer of America's St. Cloud, Minnesota manufacturing
facility. All buses are expected to be delivered by
May 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 2,000
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.
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.