Stanislaus County Exercises Option to Purchase Three 40-Foot Xcelsior Buses
Winnipeg, Manitoba, Canada – January 17, 2013, 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 the United States and Canada, announced today that Stanislaus County Public Works in Modesto, California has approved the purchase of three compressed natural gas (CNG) 40-foot heavy-duty buses.
The three buses were purchased under 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.
“As a new customer, we are thrilled at the chance to build CNG buses for Stanislaus County on our world class Xcelsior platform. This winning combination will reduce maintenance and fuel consumption to create a more cost effective and environmentally friendly transit vehicle,” said Paul Soubry, President and CEO of New Flyer Industries. “We have nearly 20 years of CNG experience with over 4700 CNG buses sold – more than any other OEM in the industry.”
New Flyer’s CNG system is designed specifically for New Flyer buses and is designed to meet or exceed CNG standards and safety requirements. Each CNG bus is designed for a 350 – 400 mile range with tanks certified for a 20-year service life. These are standard features that add value to your bus and are part of New Flyer`s Best Bus Value and Support for Life commitment to our customers.
The three buses are expected to begin production in the second quarter of 2013 and be delivered in the third 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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