WINNIPEG, May 1, 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 North America, announced today that New York
City Transit Authority ("NYCT") granted New Flyer an award for an
additional 72 heavy-duty, 40-foot, low floor, Xcelsior®
buses (72 equivalent units or "EUs").
This award is supplementary to the January 2014 contract announcement for 276
heavy-duty 40-foot Xcelsior® clean diesel powered buses
and will replace vehicles that have reached the end of their useful
life.
NYCT and MTA Bus Company (together, "MTA") comprise the largest
transit agency in North America
with over 5,700 transit buses in their fleet of which approximately
1,000 or 17% are New Flyer buses. Over the last four years,
New Flyer has delivered 668 transit buses or 758 equivalent units
("EUs") to MTA with clean-diesel and natural gas propulsions
systems in both 40 and 60-foot configurations.
Paul Soubry, New Flyer's
President and Chief Executive Officer announced, "We are very proud
to have been awarded yet another opportunity to build buses for the
NYCT, the largest bus operator in America." Soubry added, "NYCT has
among the harshest and most demanding operating profiles of any
transit agency, so continued contract awards reaffirm that our
Xcelsior is meeting their customer's needs and is built to rely
on."
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit
buses in the U.S 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. 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.