WINNIPEG, Dec. 13, 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 transit bus and
motor coach manufacturer and parts distributor in North America, announced today that Utah
Transit Authority ("UTA") in Salt Lake
City, UT awarded New Flyer a contract for up to 35 (or 70
equivalent units or "EUs") 60-foot New Flyer Xcelsior®
diesel-electric hybrid buses.
The contract includes a firm order for 25 (50 EUs) 60-foot
diesel-electric hybrid buses and options to purchase an additional
10 (20 EUs) New Flyer 60-foot XDE60 buses over the next
5-years.
The firm and option quantities for this award were mentioned in
New Flyer's 2016 third quarter results announced on November 11, 2016, and therefore have already
been accounted for in New Flyer's backlog.
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.