Winnipeg, Manitoba, Canada; December 20, 2005
New Flyer Industries Inc. (TSX:NFI.UN) today announced that the Communications Workers of America collective bargaining unit at its subsidiary’s Crookston MN plant voted yesterday on a new collective bargaining agreement, which had been unanimously recommended by the union’s Bargaining Committee. Despite the Bargaining Committee’s recommendation, the bargaining unit failed to ratify the contract.
The Company and the union have agreed that the affected employees will continue to work under the terms of the existing contract through January 9, 2006. The union leadership indicated that they will continue discussions with their membership in an effort to obtain ratification of the new collective bargaining agreement.
The Crookston plant’s unionized workforce represents ten percent (10%) of New Flyer’s total workforce in the US and Canada.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI and NFI ULC that involve risks and uncertainties. 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 the risks and uncertainties detailed in the prospectus filed with the Canadian securities regulatory authorities. Due to the potential impact of these factors, NFI 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.
Glenn Asham, Chief Financial Officer