MCI Announces Des Plaines Union to Hold Ratification Vote Regarding New Collective Agreement
Winnipeg, Manitoba, Canada – January 20, 2016: (TSX: NFI) (TSX: NFI.DB.U) MCI Sales and Service Inc. (“MCI”), a subsidiary of New Flyer Industries Inc. (the “Company”), the leading manufacturer of heavy-duty transit buses and motor coaches in North America, is pleased to announce today that MCI and the International Brotherhood of Teamsters at MCI’s Des Plaines, IL Sales and Service facility have reached a tentative new four-year collective bargaining agreement. The members of the bargaining unit will hold a ratification vote on the new agreement on Wednesday January 27, 2016. The current collective bargaining agreement expires on January 31, 2016.
The unionized workforce at the Des Plaines facility represents less than one percent of the Company’s total workforce in the United States and Canada.
About the Company
The Company employs approximately 5,000 team members and is the largest transit bus and motor coach manufacturer and parts distributor in North America with fabrication, manufacturing, distribution and service centers in Canada and the United States.
Through its Canadian and U.S. subsidiaries, Motor Coach Industries Limited and Motor Coach Industries, Inc. (together, “Motor Coach Industries”), the Company is North America’s leader in motor coaches, offering the MCI J4500, which is the industry’s best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry’s best-selling coach line in North American motor coach history. Motor Coach Industries is also the exclusive distributor of the Setra S417 and S407 in the United States and Canada. Motor Coach Industries actively supports over 28,000 motor coaches currently in service and offers 24-hour roadside assistance 365 days a year.
Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada ULC and New Flyer of America Inc. (together, “New Flyer”), the Company is North America’s heavy-duty transit bus leader and offers the broadest transit bus product line (Xcelsior® and MiDi® models), incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and now battery-electric. New Flyer actively supports over 42,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service.
The Company also operates North America’s most sophisticated aftermarket parts organization providing support for all types of transit buses and motor coaches. All buses and coaches are supported by an industry-leading comprehensive warranty, service and support network.
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 whether the union membership will ratify the tentative collective bargaining agreement 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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