WINNIPEG, Feb. 7, 2013 /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 the United States and
Canada, announced today that the Milwaukee County Transit System
("MCTS") has awarded New Flyer a contract for 90 Xcelsior diesel
40-foot heavy-duty buses.
The contract for 90 Xcelsior XD40 buses contains a firm order of 55
buses with options for an additional 35 buses. MCTS and New Flyer have
a longstanding partnership, built over the last 16 years with 691 New
Flyer buses built over that time span. With an active fleet size today
of approximately 409 buses delivered, MCTS currently operates a 100%
New Flyer fleet.
"New Flyer is very proud to be awarded the bid to build transit buses
for Milwaukee. We've come a long way from our first build with MCTS and
we continue to be committed to building and strengthening our
relationship with them long into the future," said Paul Soubry, New
Flyer's President and Chief Executive Officer. "This bus order will be
MCTS first experience with New Flyer's 'best in class' Xcelsior model.
The Xcelsior delivers improved life cycle savings and a more
comfortable transit experience for both the passengers and drivers."
"We believe that building a reliable and accessible transit fleet is
pivotal to community growth, connecting people to jobs and services,
and providing accessibility for persons with disabilities, while
reducing traffic congestion and carbon footprint," said Lloyd Grant,
Jr., MCTS Managing Director. "We believe that this New Flyer order is
aligned with our path to achieving those goals."
This award was part of the group of firm and option orders for 509
equivalent units received just prior to the end of 2012 noted in the
New Flyer press release of January 9, 2013 as included in the New Flyer
backlog, but awaiting approval for the issue of a detailed
The 55 buses are anticipated to begin production in the first quarter of
2013. All buses are expected to be delivered by the summer of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the
United States and Canada. The Company's three manufacturing facilities
- in St. Cloud, MN; Crookston, MN; and Winnipeg, MB - 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 Erlanger, KY; Fresno, CA; Winnipeg, MB and Brampton, ON.
The Company also operates a service center in Arnprior, ON.
With a skilled workforce of over 2,200 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 the United
States and Canada. 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.