June 17, 2013
METROPOLITAN ATLANTA RAPID TRANSIT AUTHORITY AWARDS NEW FLYER A CONTRACT FOR 265 BUSES
Winnipeg, Manitoba, Canada June 17, 2013: (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 Atlanta Rapid Transit Authority (MARTA) has awarded New Flyer a contract for 265 30-foot and 40-foot heavy-duty buses with compressed natural gas (CNG) propulsions.
The contract for 265 buses contains a firm order of eight Low Floor Restyled (LFR) CNG 30-foot buses and 80 Xcelsior CNG 40-foot buses with options for an additional 177 Xcelsior CNG or hybrid 40-foot buses to be exercised at a later date.
We are excited to bring these New Flyer buses on board to enhance service to our customers, said MARTA Chief Operations Officer Rich Krisak. These buses, which will replace vehicles that have reached retirement age, are equipped with advanced technology to provide an overall better, more reliable transit experience.
Since 1990, New Flyer has built and delivered 926 buses for MARTA in various models, lengths and propulsions. MARTAs 91 bus routes employ over 531 buses and served more than 62 million passenger boardings in fiscal year 2012. With the majority of its fleet represented by CNG buses, Atlanta has demonstrated its commitment to pursuing favorable sustainability practices. CNG systems reduce greenhouse gas emissions when compared to standard diesel propelled buses, leading to a healthier environment.
We value our relationship with MARTA and commend them on their environmental commitments, said Paul Soubry, President and CEO of New Flyer. MARTA has become a great example of a green transit company. Not only do they work hard to reduce greenhouse gas emissions within the city, they strive to offer an efficient and enjoyable means of travel in order to expand its base of transit users and reduce traffic congestion.
The firm order of 88 buses is anticipated to begin production in the second quarter of 2013. All buses are expected to be delivered by the fourth quarter of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Companys 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 Flyers 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.
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