Medical Academic And Scientific Community Organization Awards New Flyer A Contract For 30 40-Foot Xcelsior™ Buses
Winnipeg, Manitoba, Canada – July 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 that Medical Academic and Scientific Organization (“MASCO”), located in Boston, MA has awarded New Flyer a contract for 30 Xcelsior™ clean diesel heavy-duty buses.
MASCO currently transports approximately 11,000 riders each day on ten different routes, using a fleet of 41 vehicles. These 30 New Flyer Xcelsior™ buses will be wholly owned and operated by MASCO and will be used in place of buses currently in active service by a transit service provider.
“MASCO is committed to providing safe, comfortable and timely transportation to our riders, who represent 14 medical and academic institutions in the Longwood area” said Marilyn-Swartz-Lloyd, President and CEO of MASCO. “They are hard-working, mission driven employees, so it is extremely important to us that we partner with a company that offers a superior product. We were very impressed with what New Flyer had to offer, and we are looking forward to giving our riders the very best in transportation”.
“We are thrilled to have this opportunity to build for MASCO for the very first time,” said Paul Soubry, President and CEO of New Flyer. “We understand that MASCO’s need for accessible transit is paramount and we know that our Xcelsior transit bus will offer just that.”
The 30 buses are anticipated to begin production in the second quarter of 2014 and will be completely manufactured and assembled at New Flyer of America’s St. Cloud, Minnesota manufacturing facility. All buses are expected to be delivered in 2014.
About New Flyer
New Flyer is a leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line including drive systems powered by: clean diesel, natural gas and electric trolley as well as energy-efficient diesel-electric hybrid vehicles. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer and NABI also operate the transit industry’s most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of heavy-duty transit buses.
Together New Flyer and NABI employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both the United States and Canada. Further information is available on New Flyer’s web site at www.www.newflyer.com.
The common shares and convertible unsecured subordinated debentures of the Company 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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