WINNIPEG, April 9, 2015 /CNW/ - (TSX: NFI) (TSX:
NFI.DB.U) New Flyer of America Inc., a subsidiary of 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 Metro Transit
("Metro") a division of the Metropolitan Council, in Minneapolis, Minnesota and MTS in Maple Grove, Minnesota have exercised options
off of their current contract for twenty Xcelsior® clean
diesel heavy-duty 60-foot buses (40 equivalent units or "EUs").
Sixteen of the option XD60 buses (32 EUs) were exercised by
Metro Transit and four option XD60 buses (8EUs) were exercised by
Maple Grove, a named agency within
the Metropolitan Council contract.
The current five-year contract allows Metro to purchase up to
171 diesel and/or diesel-hybrid 60-foot Xcelsior heavy-duty transit
buses (342 EUs). These exercised options reduce New Flyer's
backlog on this contract to 151 buses (302 EUs).
"Adding these buses to our fleet keeps us on pace for the
future, serving our communities with vehicles that are in keeping
with our commitment of providing transportation choices that link,
people, jobs and our growing community", said Jan Homan, Deputy Chief of Operations, Metro
Transit.
"We are excited to build these buses for Metro Transit – made by
Minnesotans for Minnesotans," said Paul
Soubry, New Flyer's President and Chief Executive Officer.
"This will be our first 60-foot Xcelsior buses for Metro."
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit
buses in North America. 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. Over 32,000 New
Flyer and NABI heavy-duty transit buses are in operation today.
Further information is available on New Flyer's website at
http://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.