WINNIPEG, Nov. 9, 2012 /CNW/ - (TSX:NFI; TSX:NFI.DB.U) New Flyer
Industries Inc. ("New Flyer" or the "Company"), the leading
manufacturer of heavy-duty transit buses in Canada and the United
States, announced today that Grand River Transit from the Region of
Waterloo located in South-Western Ontario ("GRT") has awarded New Flyer
a five-year contract for up to123 40-foot Xcelsior clean diesel powered
buses. The contract consists of a firm order of 18 buses and options
for an additional 105 buses over the term of the contract.
New Flyer has built buses for GRT dating back to 1992, with its industry
standard setting low-floor (LF) transit bus. This contract is for New
Flyer's 'best in class' next generation Xcelsior transit bus.
"New Flyer is proud to once again be building buses for GRT, and is
committed to continuing our strong and cooperative relationship," said
Paul Soubry, New Flyer's President and Chief Executive Officer. "Our
commitment to GRT is to provide world class support for GRT's transit
operation and best value for the citizens of Waterloo Region. We stand
proudly behind our lifetime customer care program, the most
comprehensive warranty, service, training, and spare parts support in
The initial order for 18 40-foot Xcelsior buses will begin production in
the first quarter of next year and is expected to be delivered in the
second quarter of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. The Company's three manufacturing
facilities - in Winnipeg, MB; St. Cloud, MN and Crookston, MN - are all
ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company currently
operates a parts fabrication facility in Elkhart, IN and four parts
distribution centers in Winnipeg, MB; Brampton, ON; Erlanger, KY and
Fresno, CA. The Company also operates a service center in Arnprior,
With a skilled workforce of over 2,000 employees, New Flyer is a
technology leader, offering the broadest product line in the industry,
including drive systems powered by clean diesel, LNG, CNG and electric
trolley as well as energy-efficient diesel-electric hybrid vehicles.
New Flyer has delivered over 32,000 heavy-duty buses in Canada and the
United States. All products are supported with an industry-leading,
comprehensive parts and service network. Further information is
available on New Flyer's web site at www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of
New Flyer are traded on the Toronto Stock Exchange under the symbols
NFI and NFI.DB.U, respectively.
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.