New Flyer Announces Winnipeg Union Ratification of New Collective Agreement
Winnipeg, Manitoba, Canada April 11, 2015: (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, is pleased to announce that the members of the UNIFOR main collective bargaining unit at New Flyers Winnipeg facility have ratified a new collective bargaining agreement. This new three-year contract will commence on April 1, 2015 and will expire on March 31, 2018 and replaces the previous three-year agreement that expired on March 31, 2015.
This new collective agreement is representative of the strong and continued partnership between New Flyer and the UNIFOR. I would like to thank UNIFOR, their membership and the New Flyer team for a negotiation that was done professionally, constructively and efficiently by both parties, said Paul Soubry, New Flyers President and Chief Executive Officer.
The new agreement provides annual wage increases of 2.5% in year one, 2.5% in year two and 2.75% in year three of the contract. The collective bargaining agreement also provides certain wage scale, benefit and pension improvements for members.
The Winnipeg plants unionized workforce represents approximately 22 percent of New Flyers total workforce in Canada and the United States.
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. 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. 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. Further information is available on New Flyers website at http://www.www.newflyer.com/content.
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