WINNIPEG,
Sept. 17, 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 the Metropolitan Transit Authority of
Harris County, Houston, TX ("Metro") has awarded NABI Bus,
LLC ("NABI"), a subsidiary of New Flyer, a contract for 265 NABI
40-foot transit buses with clean diesel and compressed natural gas
("CNG") propulsion systems.
Metro chose NABI's 40-LFW model, which is a
rugged, utilitarian bus with recently restyled front mask and
rooftop enclosure based on a proven structure with approximately
4,500 having been manufactured over the past 15 years. The
LFW's structure is available using either carbon steel or optional
stainless steel materials. Since the LFW was introduced in
1998 approximately 1,600 have been produced using the stainless
steel structure which is a popular option for operators in hash or
unusually humid operating environments.
Paul Soubry,
President and CEO of New Flyer commented, "This Metro award is a
great example of opportunity associated with our recent acquisition
of NABI. With more than 900 buses delivered to Metro by New
Flyer since 1996, these NABI stainless steel buses are a fantastic
complement to New Flyer's overall product line." Soubry
added, "All 265 buses produced for Metro will utilize the stainless
steel structure due to Houston's
coastal environment."
The contract consists of a firm order for 265
new 40-foot buses through 2016. Delivery of 40 diesel buses
will take place in the summer of 2014; then a mixture of 45 diesel
buses and 80 CNG buses will be delivered in 2015; with 100
additional CNG buses to be delivered in 2016.
All buses will be manufactured at 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.