WINNIPEG, Nov. 17, 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 The Comet,
formerly known as the Central Midlands Regional Transit Authority
("CMRTA") located in Columbia, South
Carolina has exercised options under its current contract
for 15 New Flyer 35-foot Xcelsior® buses and 8 40-foot
Xcelsior buses.
The 35-foot buses will replace the existing fleet at The Comet,
upgrading older buses that are ready for retirement to the Xcelsior
platform. The 8 40-foot Xcelsior buses will be used to expand
the existing fleet. The Comet has grown ridership by nearly
150% in 4 years and are excited about the new equipment helping
deliver safe and more reliable service to the community.
"We are honored to grow our relationship with The Comet and
provide Xcelsior buses as part of the fleet expansion initiatives,"
said Wayne Joseph, New Flyer
Executive Vice President, Bus Business. "The Comet will have a
total of 31 Xcelsior buses in their fleet at the completion of this
order, and have focused on ridership comforts for this order,
including attributes such as USB ports and passenger
notifications."
Once this order is delivered, the customer has the option to
purchase up to an additional 44 Xcelsior clean diesel or compressed
natural gas 40- or 35-foot buses over the 5-year contract
period.
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 suspend or 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.