WINNIPEG, Sept. 30, 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 the Southeastern
Pennsylvania Transportation Authority ("SEPTA") awarded New Flyer a
contract for up to 35 30-foot MiDi® clean diesel
buses.
The contract, valued at approximately $17
million, is for a total of 35 MD30 buses, 28 which are firm
with options for an additional seven. The New Flyer MiDi was
introduced by New Flyer as part of a joint venture with Alexander
Dennis Ltd as a mid-sized transit bus or community shuttle that has
been tested to a 12-year durability standard at the bus test
program at Altoona, PA and is a
compliment to New Flyer's heavy-duty Xcelsior platform. To
date, New Flyer has delivered over 80 MiDi buses in North
America.
SEPTA currently services over 3.9 million passengers annually in
Philadelphia and its suburban
areas of Delaware, Montgomery, Bucks and Chester. It has 2,295
revenue vehicles and 196 routes covering 2,200 square miles.
"Since 2002, New Flyer has built and delivered over 1,130
transit buses for SEPTA in a variety of models, lengths and powered
by various propulsion systems. This award for MiDi buses reflects
the strong partnership that we have developed with SEPTA and is the
first significant award for our MiDi program," said Paul Soubry, President and Chief Executive
Officer of New Flyer. "SEPTA's commitment to continuous fleet
renewal efforts proves why they are amongst the leading transit
agencies in the United States"
Note: All dollar amounts are stated in U.S. currency.
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 3,300 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.