WINNIPEG, Dec. 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 the United States and Canada, announced today that the Greater
Lafayette Public Transit Corporation in conjunction with
Rock Island Metro,
Champaign-Urbana Mass Transit District, South Bend Public
Transportation and Santa Rosa Transit, awarded a contract to New
Flyer of America Inc. for up to 159 urban transit buses to be
purchased over the next five (5) years.
The Xcelsior® bus will include options for 35-foot,
40-foot or 60-foot models powered by ultra clean diesel,
diesel-electric hybrid buses and compressed natural gas, while the
MiDi® bus will include options 30-foot ultra clean
diesel and CNG configurations.
Greater Lafayette Public Transportation Corporation of
Lafayette, Indiana acting as the
lead agency operates 24 routes serving a ridership of approximately
5.2 million passengers annually. Champaign-Urbana Mass Transit
District of Champaign, Illinois
operates exclusively a New Flyer bus fleet providing over 12
million rides per year. Rock Island Quad Cities MetroLINK of
Illinois has 55 routes with an
annual ridership of 3.5 million passengers. South Bend TRANSPO of
Indiana serves 20 routes providing
2.5 million rides annually. Santa Rosa CityBus of California has 55 routes and provides 2.8
million trips per year.
"This contract reflects a developing trend of transit bus
procurements where a number of agencies work cooperatively through
a joint procurement to acquire buses" said Paul Soubry, New Flyer's President and Chief
Executive Officer. "For the agencies, it utilizes a federally
funded framework that provides an effective and a flexible vehicle
to renew their bus fleet over time. For New Flyer it provides us
with an opportunity to support our customers across a variety of
platforms and propulsion systems. As we grow with our customers,
New Flyer's mandate remains unequivocally to provide high quality
products, services and support throughout the life of their bus
fleet."
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
On November 10, 2015 New Flyer
announced that it has entered into a definitive agreement to
acquire North America's leading
motor coach manufacturer and parts and service supplier Motor Coach
Industries International, Inc. ("MCI"). The completion of the
transaction is subject to customary closing conditions including
U.S. antitrust and Canadian Competition Act approvals and is
expected to close by the end of 2015.
New Flyer's 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, risks related to the satisfaction of the relevant
closing conditions for and the completion of the purchase of MCI,
the completion of the new credit facilities being entered into in
connection with the purchase of MCI and the timing thereof, the
availability of funds from the new credit facilities for the
funding of the purchase price for and related expenses related to
the purchase of MCI 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.