Maple Grove Transit Exercises Option to Purchase Three 60-foot Xcelsior Diesel Buses
Winnipeg, Manitoba, Canada – January 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 Maple Grove Transit has approved the purchase of three (six equivalent units or “EUs”) Xcelsior diesel 60-foot heavy-duty buses.
The three buses were purchased from an umbrella contract with the procurement department of a US State. New Flyer entered into this umbrella contract, in January 2012. The contract is a ‘standing offer’ open to any US public transit agencies for up to 650 buses, and as a result, New Flyer does not record any firm orders or options as part of its total backlog until firm orders are placed against the contract.
The three articulated buses will be a new addition to Maple Grove Transit’s fleet, which currently operates approximately 35 express buses. Maple Grove purchased an order of five low-floor (LF) diesel 40-foot buses that were manufactured by New Flyer and delivered to the Minnesota-based transit company back in 2006.
“Maple Grove Transit is excited to receive these buses built right here in Minnesota with Minnesota workers. These high-quality buses will be a tremendous addition to our fleet and will go a long way to helping us meet our growing ridership,” said Mike Opatz, Transit Administrator.
“We are proud to be chosen by Maple Grove Transit as the preferred manufacturer for the city’s most recent transit bus project,” said Paul Soubry, President and CEO of New Flyer. “Maple Grove’s Xcelsior buses will be built with New Flyer’s industry renowned product reliability and will be supported by the industry’s most comprehensive aftermarket parts and services for the entire life of their buses.”
The three 60-foot diesel buses are expected to begin production in the second quarter of 2013 and will be entirely manufactured in New Flyer’s US manufacturing facility in St. Cloud, MN. Delivery of the three buses is anticipated for the second quarter of 2013.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company’s 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 2,000 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 the United States and Canada. 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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