WINNIPEG,
Nov. 13, 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 San Francisco
Municipal Transportation Authority ("SFMTA"), which oversees all
transportation in the City, including the Municipal Railway (MUNI),
has approved the purchase of an additional 50 heavy-duty 40-foot
Xcelsior® diesel-electric hybrid buses.
SFMTA will purchase these buses under an
umbrella contract with the procurement department of another US
State. This umbrella contract is a 'standing offer' open to public
transit agencies across the United
States, and as a result, New Flyer does not record any firm
orders or options as part of its backlog until customer specific
orders are received.
These 50 buses will be in addition to the 62
40-foot Xcelsior® diesel-electric hybrid buses awarded
to New Flyer as mentioned in press releases on September 10, 2012 and December 21, 2012.
"We are bringing state-of-the-art new hybrid
buses to Muni's riders, investing in the infrastructure needed to
make MUNI a better means of transportation by improving transit
performance and reliability," said Ed
Reiskin, SFMTA Director of Transportation.
"We are excited to build additional
Xcelsior® hybrid buses for SFMTA," said Paul Soubry, New Flyer's President and Chief
Executive Officer. "Having repeat customers that share our vision
of high quality products, service and support is critical to
building strong and lasting relationships. We are very proud
to be associated with MUNI, who have clearly demonstrated
commitment to service excellence through an environmentally
conscious and responsible approach to providing transit
service."
Production of these 50 buses has begun and all
buses are expected to be delivered by the end of 2013.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC 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 its subsidiaries NABI Bus, LLC
and NABI Parts, LLC 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.
The New Flyer group of companies 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.