Port Authority of Allegheny County exercises options to purchase 40
60-foot articulated buses
WINNIPEG,
Nov. 20, 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
the United States and Canada, announced today that the Port
Authority of Allegheny County
("Port Authority") in Pittsburgh,
PA has approved the purchase of an additional 40 low floor
60-foot diesel heavy-duty articulated buses (80 equivalent units or
"EUs").
This order was placed using options from an
existing five year Port Authority contract with New Flyer, signed
August 2010. The contract
enables the assignment of options of which 49 buses still remain
after this procurement and are included in New Flyer's total
backlog.
Port Authority's fleet consists of approximately
700 buses, including 61 New Flyer low floor diesel articulated
buses that were built in 2011. The new 40 bus procurement is
anticipated to begin production in the second quarter of 2013 and
will be entirely manufactured in New Flyer's US manufacturing
facility in St. Cloud, MN.
Delivery of the buses is expected late in the third quarter of
2013.
"New Flyer is dedicated to building a lasting
relationship with a commitment to support the Port Authority`s
buses over their lifetime. We were very excited to win Port
Authority for the first time in 2010 and are thrilled that they
have decided to acquire more New Flyer buses," said Paul Soubry, New Flyer's President and Chief
Executive Officer. "Our Flyer buses are supported by the
industry's most comprehensive service and support network.
With aftermarket parts, field service, technical support, training,
publications and comprehensive product warranties, New Flyer buses
truly have support for life."
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.