WINNIPEG, June 22, 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 largest
heavy-duty transit bus and motor coach manufacturer and parts
distributor in North America,
announced today that Lane Transit District ("LTD"), located in
Eugene, Oregon awarded New Flyer a
contract for up to 75 heavy-duty 40 or 60-foot Xcelsior®
clean diesel and diesel electric hybrid buses.
The contract includes a firm order for five Xcelsior XDE40 buses
valued at approximately $3.19
million, with options for an additional 70 units over the
next five years. The order will replace older vehicles in LTD's
current fleet with newer, more fuel efficient Xcelsior buses.
LTD provides nearly 11 million passenger trips annually,
operating on 37 routes and serving the metropolitan of Eugene and surrounding rural communities.
New Flyer has delivered 36 heavy-duty transit buses to LTD since
2004.
"For more than a decade New Flyer has partnered with Lane
Transit", said Paul Soubry,
President and Chief Executive Officer of New Flyer. "We are proud
to work with a transit group that has been awarded Transit System
of the Year by the American Public Transit Association in 2014, and
are confident that our best-in class heavy-duty Xcelsior bus will
directly support LTD's sustainability initiatives."
NOTE: All dollar amounts are stated in U.S. currency.
About The Company
The Company 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 and employs approximately 5,000 team
members.
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 comprehensive 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.