New Flyer Named by LA Metro as a Partner For an FTA Program Regarding Zero-Emissions Vehicle Deployment
Winnipeg, Manitoba, Canada – May 4, 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 Los Angeles County Metropolitan Transportation Authority (“LACMTA” or “LA Metro”) funding for five New Flyer 60 foot battery-electric zero-emission Xcelsior® bus rapid transit (BRT) buses and associated charging stations.
LA Metro’s award is valued at $4.2 million of an available $22.5 million of funds granted by the FTA’s Low or No Emission Vehicle Deployment Program.
The electric bus infrastructure will serve LA Metro’s Orange Line BRT corridor in Los Angeles County. LACMTA will also partner with the Southern California Regional Transit Training Consortium to include workforce development in support of zero-emission technology.
The Orange Line BRT system operates on an 18-mile (18-stop) two‐lane exclusive busway in the San Fernando Valley region of Los Angeles County. This world renowned BRT system averages 30,000 weekday passenger boarding’s has been operational since 2005.
The New Flyer Xcelsior XE60 battery-electric buses features a Siemens electric drive system and proven electric subsystems with unique electric drive motor technology permitting the bus to reduce the energy consumed while driving, and increase the energy recovered during braking. The battery-electric buses are capable of running 22 hours of scheduled service on the Orange Line using a rapid charging system that will take about 7 minutes per recharge for each hour of bus service.
The project builds on the considerable experience of New Flyer in manufacturing all types of electrically driven vehicles, including electric trolley buses, fuel cell buses, gas and diesel hybrids, and battery-electric buses.
“We are very proud to be partnering with the FTA, LA Metro and the Southern California Transit Training Association on the deployment of these zero-emission buses on the Orange Line. These innovative electrically driven BRT buses offer transit riders a quiet and smooth riding experience and significant advancements in clean air transportation in the Los Angeles area community”, said Paul Smith, New Flyer Executive Vice President, Sales and Marketing.
LA Metro’s transit fleet includes 2,160 heavy-duty transit buses currently in operation of which nearly 95% have been built by New Flyer or NABI, which was purchased by New Flyer in 2013 and is now part of New Flyer. In February 2016, LA Metro exercised options for 350 heavy-duty 40-foot buses with clean-air compressed natural gas.
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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