WINNIPEG, March 10, 2016 /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 and motor coaches in
the United States and Canada, announced today that Long Beach
Transit awarded New Flyer a contract for up to 129 heavy-duty
40-foot Xcelsior® compressed natural gas ("CNG")
buses.
The contract includes a firm order for 40
Xcelsior XN40 buses valued at approximately $22 million, with options for an additional 89
units over the next 5 years. The initial order will replace
older vehicles in Long Beach Transit's current fleet with new fuel
efficient Xcelsior XN40 buses.
Long Beach Transit currently serves over 28
million annual riders with a fleet of 249 vehicles in fixed route
service in the Orange County and Los Angeles County area.
NOTE: All dollar amounts are stated in U.S.
currency.
About New Flyer
The Company employs over 5,000 team members and
is the largest transit bus and motor coach manufacturer and parts
distributor in North America with
fabrication, manufacturing, distribution and service centers in
Canada and the United States.
Through its Canadian and U.S. subsidiaries, New
Flyer Industries Canada ULC and New Flyer of America Inc., the
Company is North America's
heavy-duty transit bus leader and offers the broadest transit bus
product line (Xcelsior® and MiDi® models),
incorporating the broadest range of drive systems available,
including: clean diesel, natural gas, diesel-electric hybrid,
electric-trolley and now battery-electric. New Flyer actively
supports over 42,000 heavy-duty transit buses (New Flyer, NABI and
Orion) currently in service.
Through its Canadian and U.S. subsidiaries,
Motor Coach Industries Limited and Motor Coach Industries, Inc.,
the Company is North America's
leader in motor coaches, offering the MCI J4500,which is the
industry's best-selling intercity coach for 11 consecutive years,
and the MCI D-Series, the industry`s best-selling coach line in
North American motor coach history. MCI is also the exclusive
distributor of Setra S417 and S407 in the
United States and Canada.
MCI actively supports over 28,000 motor coaches currently in
service and offers 24-hour roadside assistance 365 days a year.
The Company also operates North America's most sophisticated aftermarket
parts organization providing support for all types of transit buses
and motor coaches. All buses and coaches are supported by an
industry-leading comprehensive warranty, service and support
network.
Further information is available on the
Company's websites at www.newflyer.com and www.mcicoach.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.