New Flyer Announces Ractification by Inspection Unit of New Collective Agreement
Winnipeg, Manitoba, Canada – May 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, is pleased to announce that the members of the Canadian Auto Workers (CAW) Inspection collective bargaining unit at the Company’s Winnipeg facility have today ratified a new collective bargaining agreement. The new three-year contract will expire on March 31, 2012 and replaces the previous three-year agreement that expired on March 31, 2009.
This new collective bargaining agreement is substantially similar to the terms of the collective bargaining agreement ratified on March 28, 2009 by the CAW’s main bargaining unit at the Company’s Winnipeg facility.
The Inspection bargaining unit represents 31 employees at New Flyer’s Winnipeg facility, or approximately 1.3 percent of the Company’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 2,500 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.www.newflyer.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Company 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 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 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