WINNIPEG,
July 18, 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
the United States and Canada, announced today that Washington
Metropolitan Area Transit Authority ("WMATA") has awarded NABI Bus,
LLC ("NABI"), a subsidiary of New Flyer, a contract for up to 654
(725 equivalent units or "EUs") NABI Bus Rapid Transit ("BRT")
styled 42-foot and 60-foot transit buses with propulsion system
options including: diesel-electric hybrid and compressed natural
gas ("CNG").
The contract contains a firm order for 85 NABI
BRT-styled diesel-electric hybrid 42-foot buses and options of up
to 498 42-foot NABI BRT-styled diesel-electric hybrid or CNG buses,
and up to 71 (142 EUs) 60-foot diesel-electric hybrid buses over a
5 year contract period.
"We are thrilled about our recent acquisition of
NABI, and this award reinforces the opportunity we have to provide
a broader product and support offering and create better value for
our customers," said Paul Soubry,
President and CEO of New Flyer. Soubry further explained, "WMATA
operates both New Flyer and NABI buses and collectively we have
delivered 1,046 buses to WMATA since 1995. We are very impressed
with NABI products and personnel, and compliment them on this
contract award from WMATA".
Brian Dewsnup,
Vice President and GM of NABI commented, "Following its
introduction in 2005, the NABI BRT-styled buses have become the
industry leading model in its class". Dewsnup explained, "With an
aerodynamic front mask and sleek appearance from every angle, the
NABI BRT commands the attention of onlookers and eager passengers
and will be a great addition to the transit system in our nation's
capital".
The firm order for 85 BRT buses are anticipated
to begin production in the first quarter of 2014 and are expected
to be delivered by June 2014.
All buses will be manufactured in NABI's Anniston, AL facility.
About New Flyer
New Flyer with its recently acquired NABI subsidiary is the leading
manufacturer of heavy-duty transit buses in the United States and Canada. 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.