NEW FLYER’S CROOKSTON, MINNESOTA UNION TO HOLD RATIFICATION VOTE ON NEW COLLECTIVE AGREEMENT
Crookston, Minnesota, United States; December 14, 2010; New Flyer Industries Inc. (TSX:NFI.UN) (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit vehicles in Canada and the United States, announced today that the Company and the Communication Workers of America (“CWA”) main collective bargaining unit at New Flyer’s Crookston facility has reached a tentative new 5-year collective bargaining agreement. This tentative agreement has been reached prior to the expiry of the current collective bargaining agreement, which expires at midnight on December 31, 2010.
The CWA bargaining committee has announced that it will recommend the proposed new collective bargaining agreement to its members at an information meeting on Wednesday December 15, 2010. The members of the main bargaining unit will then hold a ratification vote on the new agreement on Friday December 17, 2010.
The Crookston plant’s unionized workforce represents approximately 9 percent of New Flyer’s total workforce in Canada and the United States.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company’s three facilities -- in Winnipeg, MB, St. Cloud, MN and Crookston, MN - are all ISO 9001, ISO 14001 and OHSAS 18001 certified. 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 gasoline-electric and diesel-electric hybrid vehicles. All products are supported with an industry-leading, comprehensive parts and service network. The Company’s income deposit securities are traded on the Toronto Stock Exchange under the symbol NFI.UN. Further information is available on New Flyer’s web site at www.newflyer.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of New Flyer and New Flyer Industries Canada ULC (“NFI ULC”) 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 transit agencies to purchase buses 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, New Flyer and NFI ULC disclaim 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.
For further information, please contact:
New Flyer Industries Inc.
Chief Financial Officer