New Flyer Named by AC Transit as a Partner For an FTA Program Regarding Zero-Emission Transit Buses
Winnipeg, Manitoba, Canada – May 5, 2016: (TSX: NFI) (TSX: NFI.DB.U) New Flyer Industries Canada ULC, a subsidiary of New Flyer Industries Inc. (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced that the U.S. Federal Transit Administration (“FTA”) awarded the Alameda-Contra Costa Transit District (“AC Transit”) funding for five New Flyer 40 foot battery-electric Xcelsior® transit buses and the associated charging stations.
As a leader in successfully deploying zero-emission buses, AC Transit has more than 1.6 million miles of electric fuel cell bus operation. AC Transit the fourth-largest public transit system in California and the largest bus-only public transit system in the United States, serving 13 cities and adjacent unincorporated areas of Alameda and Contra Costa counties and carrying over 57 million passengers annually.
AC Transit was awarded $1.5 million of the available $22.5 million of funds granted by the FTA’s Low or No Emission Vehicle Deployment Program for the acquisition of zero-emission buses and recharging equipment. This project will expand AC Transit’s clean vehicle infrastructure in addition to providing valuable data to the FTA and other transit agencies by comparing battery-electric to fuel cell technology. The New Flyer Xcelsior XE40 battery-electric buses are planned to operate in East Oakland, CA.
The New Flyer XE40 battery-electric bus is built on the stylized and weight reduced Xcelsior platform and utilizes a Siemens, a global leader in electric transportation, for the electric motor. The motor is direct driven and does not require a transmission, yielding a less costly and simpler propulsion system, and the quietest battery-electric bus in the industry.
The Center for Transportation and the Environment (“CTE”) is also a partner with AC Transit on this project. CTE is a non-profit organization that brings public and private organizations together to advance clean, sustainable, innovative transportation and energy technologies. CTE will collect operational data and provide reports to FTA and other agencies to further deployment efforts on zero-emission buses.
Paul Smith, New Flyer Executive Vice President Sales and Marketing noted: “We are extremely pleased of our growing partnership with AC Transit in their industry leading role in the development of transit bus technology, including zero-emissions and bus rapid transit systems. AC Transit’s commitment to zero-emissions technology is recognized globally and we are honored to be part of this important FTA program to evaluate the two types of zero-emissions technologies”.
NOTE: All dollar amounts are stated in U.S. currency.
About The Company
The Company employs approximately 5,000 team members and is the largest transit bus, 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, New Flyer Industries Canada ULC and New Flyer of America Inc., 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.
Through its Canadian and U.S. subsidiaries, Motor Coach Industries Limited and Motor Coach Industries, Inc., 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. MCI is also the exclusive distributor of Setra S417 and S407 in the United States and Canada. MCI actively supports over 28,000 motor coaches currently in service and offers 24-hour roadside assistance 365 days a year.
The Company also operates North America’s most comprehensive 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.
Further information is available on the Company’s websites at www.www.newflyer.com and www.mcicoach.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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