Regional Transportation District Awards Contract to New Flyer for up to 192 60-Foot Diesel Transit Buses
Winnipeg, Manitoba, Canada October 24, 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 Regional Transportation District (RTD) in Denver, Colorado has awarded New Flyer a five year contract to build up to 192 diesel 60-foot Xcelsior® heavy-duty transit buses (or 384 equivalent units or EUs).
This is the first time the Company will build buses for RTD. The contract, which contains a firm order for 52 buses using New Flyers Xcelsior® platform, of which 12 of these buses will be built using New Flyers Bus Rapid Transit (BRT) styling. The contract also contains up to 140 options that may be awarded at a later date with the option to build buses of diesel-hybrid, CNG or clean diesel propulsion.
RTD has an active transit bus fleet of 572 buses with an average bus fleet age of over 10 years. The addition of these 52 Xcelsior® buses will help RTD serve their 2.8 million service area population encompassed in the 40 municipalities, 6 counties and 2 city/county jurisdictions. The BRT style buses will be used to implement the new metroRide service, RTDs new free downtown circulator being implemented to correspond to the opening of Denver Union Station as the new multimodel transportation hub in downtown Denver.
We look forward to a highly productive working relationship with New Flyer that benefits our passengers, bus operators and maintenance teams. Adding New Flyer to our bus fleet helps us embark on another exciting chapter in RTDs long history of providing the best possible vehicles and service to our customers, said Bruce Abel, RTD Assistant General Manager of Bus Operations.
Were privileged to be awarded this contract by RTD, said Paul Soubry, New Flyers President and Chief Executive Officer. We are excited to not only have RTD as a new customer, but thrilled that we can produce our Xcelsior model in both the 60-foot and 60-foot BRT styling.
Production of the 12 60-foot BRT-styled buses is scheduled to begin in the first quarter of 2014 with all buses being delivered by the second quarter 2014. The 52 60-foot Xcelsior® buses will be manufactured beginning in the first quarter of 2014 and will all be completely manufactured and assembled at New Flyer of Americas St. Cloud, Minnesota manufacturing facility.
About New Flyer
New Flyer, with its recently acquired NABI Bus, LLC subsidiary, is the 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 its subsidiaries NABI Bus, LLC and NABI Parts, LLC also operate the transit industrys most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of heavy-duty transit buses.
The New Flyer group of companies employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States. Further information is available on New Flyers 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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