Rochester-Genesee, NY Exercises Options for 19 New Flyer Xcelsior Transit Buses
Winnipeg, Manitoba, Canada December 13, 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 Rochester-Genesee Regional Transportation Authority (RGRTA) has exercised options for 19 40-foot clean diesel powered Xcelsior® buses.
These 19 option buses are exercised options from a 5-year contract described in New Flyers press release on November 9, 2012. Once these options are exercised, 77 options remain under this contract and are included in New Flyers backlog.
Since 1999, New Flyer has proudly delivered 126 buses to RGRTA in both 40-foot and 60-foot lengths. RGRTA has 405 active buses in their fleet providing services to various local counties and supporting a ridership of more than 18 million annually. These 19 new buses will be used to replace older buses in RGRTAs fleet that have reached the end of their lifespan.
New Flyer is pleased to continue building buses for Rochester-Genesee Regional Transportation Authority, said Paul Soubry, New Flyers President and Chief Executive Officer. We appreciate RGRTA`s dedication to providing their customers with a safe, reliable and comfortable ride and are confident that these commitments will be met with our world class Xcelsior model.”
The 19 buses are currently in production and will be delivered in the first quarter of 2014.
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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