WINNIPEG,
March 22, 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
Canada and the United States, announced today that
Mississauga Transit ("MiWay") has approved the purchase of ten
(twenty equivalent units or "EUs") Xcelsior™ diesel 60-foot
articulated heavy-duty buses and 14 diesel 40-foot Xcelsior™
heavy-duty buses.
The delivery of the 24th bus of this order will
mark the 242nd bus that New Flyer has built and
delivered to the transit agency since our first collaborative build
dating back to 1993.
"The BRT style buses will be put into service on
the Mississauga Transitway which
is scheduled to open the first segment this Fall and the
articulated buses will replace retiring New Flyer buses after many
years of service to transit riders in Mississauga," said Geoff Marinoff, Transit Director, MiWay.
"This order shows the key partnership that MiWay
and New Flyer have developed over the past twenty years," said
Paul Soubry, President and CEO of
New Flyer. "We're pleased to once again be awarded the
opportunity to build for MiWay and are thrilled to have repeat
customers that believe in the quality of our buses and understand
the value of the strong support network that stands behind all of
our products."
All 24 40- and 60-foot buses are expected to
begin production in the third quarter of 2013. Delivery of the
buses is anticipated for the third 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.