WINNIPEG,
June 24, 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 BC
Transit has awarded New Flyer a contract for 50 Xcelsior™
compressed natural gas ("CNG") 40-foot heavy-duty buses.
The contract for 50 Xcelsior™ buses contains a
firm order of 25 buses with options for an additional 25 buses that
may be exercised at a later date. These buses will be added to BC
Transit's approximately 650 heavy duty bus fleet and will operate
throughout Nanaimo, BC. Between
1992 and 2009 New Flyer has built and delivered 316 buses to BC
Transit.
"Our last project with BC Transit was for
Hydrogen Fuel Cell buses in 2009. We're really excited to
once again collaborate with BC Transit on bringing another clean
fuel bus fleet to British
Columbia," said Paul Soubry,
President and CEO of New Flyer. "Not only is this the first time we
will build our Xcelsior™ model for BC Transit, it's also the first
CNG bus we have ever built for them."
"We look forward to partnering again with New
Flyer as BC Transit introduces its first-ever CNG fleet," said BC
Transit President and CEO Manuel
Achadinha. "Sustainability is a core value at BC Transit,
and the addition of CNG fuelled buses helps further our green fleet
efforts."
"The Regional District of Nanaimo is excited to be receiving the first
CNG fleet in BC Transit," said Diane
Brennan, Regional District of Nanaimo Transit Select
Committee Chair. "CNG New Flyer buses will help play an integral
role in achieving our region's environmental and economic
goals."
The 25 CNG buses are anticipated to begin
production in the fourth quarter of 2013 and all buses are expected
to be delivered in the first quarter of 2014.
About New Flyer
New Flyer is a leading manufacturer of heavy-duty transit buses in
Canada and the United States. 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 NABI 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 transit buses.
Together New Flyer and NABI 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.
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.