Winnipeg, Manitoba, Canada; March 28, 2009
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, was pleased to announce today that the members of the Canadian Auto Workers (CAW) main collective bargaining unit at the Company’s Winnipeg facility ratified a new collective bargaining agreement. This new three-year contract will expire on March 31, 2012, and replaces the previous three-year agreement that will expire on March 31, 2009.
“This new collective agreement reflects a spirit and willingness for progress and performance at New Flyer. The negotiation was done professionally, constructively and efficiently by both parties and was concluded exactly on schedule”, said Paul Soubry, New Flyer’s President and Chief Executive Officer. “I would like to thank the CAW, their membership and the New Flyer team for their commitment to the Company’s operational excellence initiatives that will permit New Flyer to maintain its industry leading position and that will further enhance its competitiveness.”
The new agreement provides annual increases of 3%, 3.5% and 3.5% for each of the three years of the contract. The collective bargaining agreement also provides annual increases in the employees’ defined benefits pension plan and certain vacation and benefit improvements.
The Winnipeg plant’s unionized workforce represents 826 employees, representing approximately 34 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 approximately 2,400 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. New Flyer’s Income Deposit Securities are traded on the Toronto Stock Exchange under the symbol NFI.UN. Further information is available on Company’s web site at www.newflyer.com.