Mississauga Transit Awards New Flyer a Contract for 24 Xcelsior™ Buses
Winnipeg, Manitoba, Canada – March 22, 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 Canada and the United States, announced today that Mississauga Transit (“MiWay”) has approved the purchase of ten (twenty equivalent units or “EUs”) Xcelsior™ diesel 60-foot articulated heavy-duty buses and 14 diesel 40-foot Xcelsior™ heavy-duty buses.
The delivery of the 24th bus of this order will mark the 242nd bus that New Flyer has built and delivered to the transit agency since our first collaborative build dating back to 1993.
“The BRT style buses will be put into service on the Mississauga Transitway which is scheduled to open the first segment this Fall and the articulated buses will replace retiring New Flyer buses after many years of service to transit riders in Mississauga,” said Geoff Marinoff, Transit Director, MiWay.
“This order shows the key partnership that MiWay and New Flyer have developed over the past twenty years,” said Paul Soubry, President and CEO of New Flyer. “We’re pleased to once again be awarded the opportunity to build for MiWay and are thrilled to have repeat customers that believe in the quality of our buses and understand the value of the strong support network that stands behind all of our products.”
All 24 40- and 60-foot buses are expected to begin production in the third quarter of 2013. Delivery of the buses is anticipated for the third quarter of 2013.
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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