WINNIPEG, Sept. 17, 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 Metropolitan Transit
Authority of Harris County, Houston, TX ("Metro") has awarded NABI Bus,
LLC ("NABI"), a subsidiary of New Flyer, a contract for 265 NABI
40-foot transit buses with clean diesel and compressed natural gas
("CNG") propulsion systems.
Metro chose NABI's 40-LFW model, which is a rugged, utilitarian bus with
recently restyled front mask and rooftop enclosure based on a proven
structure with approximately 4,500 having been manufactured over the
past 15 years. The LFW's structure is available using either carbon
steel or optional stainless steel materials. Since the LFW was
introduced in 1998 approximately 1,600 have been produced using the
stainless steel structure which is a popular option for operators in
hash or unusually humid operating environments.
Paul Soubry, President and CEO of New Flyer commented, "This Metro award
is a great example of opportunity associated with our recent
acquisition of NABI. With more than 900 buses delivered to Metro by
New Flyer since 1996, these NABI stainless steel buses are a fantastic
complement to New Flyer's overall product line." Soubry added, "All
265 buses produced for Metro will utilize the stainless steel structure
due to Houston's coastal environment."
The contract consists of a firm order for 265 new 40-foot buses through
2016. Delivery of 40 diesel buses will take place in the summer of
2014; then a mixture of 45 diesel buses and 80 CNG buses will be
delivered in 2015; with 100 additional CNG buses to be delivered in
All buses will be manufactured at NABI's Anniston, AL facility.
About New Flyer
New Flyer, with its recently acquired NABI subsidiary, is the leading
manufacturer of heavy-duty transit buses in the United States and
Canada. The Company is the industry technology leader and offers the
broadest product line including drive systems powered by: clean diesel,
natural gas and electric trolley as well as energy-efficient
diesel-electric hybrid vehicles. All buses are supported by an
industry-leading comprehensive warranty and support program, and
service network. New Flyer and NABI also operate the transit
industry's most sophisticated aftermarket parts organization, sourcing
parts from hundreds of different suppliers and providing support for
all types of heavy-duty transit buses.
Together New Flyer and NABI employ over 3,000 team members with
manufacturing, fabrication, parts distribution and service centers in
both Canada and the United States. Further information is available on
New Flyer's web site at www.newflyer.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.
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.