New Flyer Displays 60-Foot Xcelsior® Bus Powered by BAE Series-E Hybridrive® at APTA EXPO
Winnipeg, Manitoba, Canada – October 16, 2014: (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, proudly displayed one of the first few Santa Clara Valley Transportation Authority (“VTA”) 60-foot Xcelsior® buses featuring BAE’s Series-E HybriDrive® propulsion system at the American Public Transportation Association (“APTA”) EXPO in Houston, Texas this week.
With this order, New Flyer adds the BAE Series-E HybriDrive to its available clean propulsion options for the 60-foot New Flyer Xcelsior XDE60. The BAE Series-E HybriDrive is a series diesel-electric hybrid system which provides all electric power directly to the axle, and incorporates a smaller diesel engine. This Xcelsior XDE60 configuration also includes all electric accessories, and offers our customers the following fuel saving and pollution reduction features:
- Start/Stop Drive, which reduces engine idle time by shutting down the diesel engine below 8mph, and can reduce engine run time by up to 25%.
- Depot Drive, which enables bus operators to enter and exit the bus depot without the engine operating, keeping the depots emission free.
- Quiet Drive, a feature which allows bus operation without the engine at low speeds through noise-sensitive areas.
“We want to give a big thank you to VTA for letting us display their bus at APTA EXPO this week,” said Paul Soubry, President and CEO of New Flyer. “The bus was very well received by our customers and other industry participants.”
The 29 60-foot hybrid buses were awarded to New Flyer in Q3 2013, and support VTA’s commitment to environmental sustainability. The New Flyer XDE60 will provide residents of Santa Clara County with a modern, spacious, and reliable transit vehicle which produces lower greenhouse gas emissions and consumes substantially less fuel than conventional propulsion options.
About New Flyer
New Flyer 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 of transit buses including drive systems powered by: clean diesel, natural gas, diesel-electric hybrid, electric trolley and now, battery-electric. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer also operates the industry’s most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of 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 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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