WINNIPEG, May 30, 2017 /CNW/ - (TSX: NFI) (TSX: NFI.DB.U)
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 the City of
Phoenix exercised options under its contract for 40-foot and
60-foot articulated heavy-duty Xcelsior® buses for a
total of 54 equivalent units.
This order is comprised of 20 60-foot articulated Xcelsior
diesel-powered buses, two 60-foot articulated Xcelsior compressed
natural gas-powered buses (CNG), and 10 40-foot Xcelsior
CNG-powered buses. These buses will replace the City of Phoenix's existing fleet that have
reached the end of their useful life.
Over the past 10 years, New Flyer has delivered over 250 buses
to the City of Phoenix. "New
Flyer is proud to be in a position to provide industry-leading
buses to the City of Phoenix. Many
of the 60-foot buses are used on the City
of Phoenix express routes allowing the City to move more
passengers while providing safe and reliable transportation," said
Paul Smith, Executive Vice
President, Sales, Marketing and Customer Program Management.
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,
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 44,000 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.