WINNIPEG, Oct. 13, 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 ABQ RIDE in Albuquerque, NM ("ABQ") awarded New Flyer a
contract for up to 83 heavy-duty 40-foot Xcelsior®
compressed natural gas ("CNG") buses.
The contract, valued at approximately $44
million, is a firm order for 20 XN40 buses, with options for
an additional 63 XN40 buses over five years.
ABQ has approximately 230 buses in its fleet, 135 of which have
been built by New Flyer since 2004. This contract will be ABQ's
second order of the Xcelsior model with the CNG propulsion system
and will increase service capacity over the 40 routes they serve
for 13 million passengers annually.
"We are pleased to be chosen once again to build Xcelsior buses
for ABQ RIDE," said Paul Soubry,
President and Chief Executive Officer of New Flyer. "This is a
transit company that strives to keep their fleet current and
efficient, and is committed to providing the best service possible
to its ridership"
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.