Mississauga Transit Awards New Flyer a Contract for 24 Xcelsior™ Buses
WINNIPEG, March 22, 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 Canada and the United States, announced today that
Mississauga Transit ("MiWay") has approved the purchase of ten (twenty
equivalent units or "EUs") Xcelsior™ diesel 60-foot articulated heavy-duty
buses and 14 diesel 40-foot Xcelsior™ heavy-duty buses.
The delivery of the 24th bus of this order will mark the 242(nd) bus that New
Flyer has built and delivered to the transit agency since our first
collaborative build dating back to 1993.
"The BRT style buses will be put into service on the Mississauga Transitway
which is scheduled to open the first segment this Fall and the articulated
buses will replace retiring New Flyer buses after many years of service to
transit riders in Mississauga," said Geoff Marinoff, Transit Director, MiWay.
"This order shows the key partnership that MiWay and New Flyer have developed
over the past twenty years," said Paul Soubry, President and CEO of New
Flyer. "We're pleased to once again be awarded the opportunity to build for
MiWay and are thrilled to have repeat customers that believe in the quality of
our buses and understand the value of the strong support network that stands
behind all of our products."
All 24 40- and 60-foot buses are expected to begin production in the third
quarter of 2013. Delivery of the buses is anticipated for the third quarter of
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, ON.
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
The common shares and convertible unsecured subordinated debentures of New
Flyer are traded on the Toronto Stock Exchange under the symbols NFI and
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.
Jon Koffman Investor Relations Tel: 204-224-6672
SOURCE: New Flyer Industries Inc.
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-0- Mar/22/2013 20:03 GMT
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