Welland Transit Awards New Flyer A New Contract For One 35-Foot Xcelsior Busvvvvvvvvvvv
Winnipeg, Manitoba, Canada – November 13, 2012: (TSX:NFI; TSX:NFI.DB.U) New Flyer Industries Inc. (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses in Canada and the United States, announced today that Welland Transit has approved the purchase of one Xcelsior diesel 35-foot heavy-duty bus.
In the last three years, New Flyer has built and delivered four buses for Welland Transit’s fleet. This bus build will be for the Xcelsior, New Flyer’s newest model, offering an enhanced passenger experience with improved accessibility, fuel economy, noise reduction and streamlined styling.
“We are proud to have been awarded the opportunity to build New Flyer’s industry-leading Xcelsior Bus for the City of Welland. The Xcelsior offers ‘best in class’ features such as improved accessibility with a 1 to 7 sloped ramp, quiet and spacious passenger compartment amenities, maintenance access and improved fuel economy due to significant weight reduction when compared to similar conventional configurations,” said Paul Soubry, New Flyer’s President and Chief Executive Officer.
Production of the 35-foot Xcelsior diesel bus is anticipated to commence manufacturing in the second quarter of 2013 at New Flyer’s Winnipeg, MB, Canada manufacturing facility.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in Canada and the United States. The Company’s three manufacturing facilities – in Winnipeg, MB; St. Cloud, MN and Crookston, MN – 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 Winnipeg, MB; Brampton, ON; Erlanger, KY and Fresno, CA. The Company also operates a service center in Arnprior, ON.
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 diesel-electric hybrid vehicles. New Flyer has delivered over 32,000 heavy-duty buses in Canada and the United States. All products are supported with an industry-leading, comprehensive parts and service network. Further information is available on New Flyer’s web site at www.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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