WINNIPEG,
July 14, 2014 /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 Long Beach
Transit has awarded New Flyer a contract for 13 (26 equivalent
units or "EUs") 60-foot heavy-duty Xcelsior® articulated
compressed natural gas ("CNG") buses.
New Flyer has manufactured 250 buses for Long
Beach Transit over the past 20 years in a variety of propulsions,
bus lengths and platforms. These additional 13 articulated buses
will be used to replace New Flyer 60' diesel buses manufactured in
2002, which have reached the end of their useful life. The new
articulated buses will be powered by CNG, keeping with Long Beach
Transit's Alternative Fuel Policy.
"We're excited for the opportunity to build our
proven Xcelsior model for Long Beach Transit," said Paul Soubry, New Flyer President and Chief
Executive Officer. "Not only is this the first time we will
build our Xcelsior model for them, it will be the first time we
have ever built them CNG buses, we are honored for this
opportunity."
The 13 articulated buses will be manufactured
starting with a lead bus in the fourth quarter of 2014 with all
buses being delivered in the second quarter of 2015. This order is
included in the Q2 2014 order activity.
About New Flyer
New Flyer 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 of
transit buses including drive systems powered by: clean diesel,
natural gas, diesel-electric hybrid, electric trolley and now,
battery-electric. All buses are supported by an
industry-leading comprehensive warranty and support program, and
service network. New Flyer also operates the industry's most
sophisticated aftermarket parts organization, sourcing parts from
hundreds of different suppliers and providing support for all types
of 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.