WINNIPEG, June 12, 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 Oahu Transit
Services Inc., located in Honolulu,
Hawaii awarded New Flyer a contract for up to 20 heavy-duty
60-foot, clean diesel transit buses (40 equivalent units or
"EUs").
The contract, valued at approximately $17
million dollars, is a firm order for 10 Xcelsior XD60 buses,
with options for an additional 10 XD60s. New Flyer has been
supplying buses for Honolulu for
the past 14 years and has built and delivered 155 60-foot diesel
and diesel hybrid buses to date.
"We are proud to have been selected to build our market leading
Xcelsior bus once again for Oahu Transit," said Paul Soubry, New Flyer's President and Chief
Executive Officer. "These buses will replace existing models that
have reached the end of their useful life and will help transport
Honolulu's annual ridership of
more than 7.3 million."
Note: All funds mentioned are in U.S Dollars
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. 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.