New Flyer Announces Crookston Bargaining Unit Members Fail to Ratify New Collective Agreement
Winnipeg, Manitoba, Canada, December 19, 2015; (TSX: NFI) (TSX: NFI.DB.U) New Flyer of America Inc., a subsidiary of New Flyer Industries Inc. (New Flyer or the Company), the leading manufacturer of heavy-duty transit vehicles in North America, announced that the members of the Communication Workers of America collective bargaining unit at New Flyers Crookston, MN facility failed to ratify a proposed new five-year collective bargaining agreement. The current collective bargaining agreement expires on December 31, 2015, but will continue in effect after its expiry unless terminated by action of either party.
The Crookston plants unionized workforce represents approximately eight percent of New Flyers total workforce in the United States and Canada.
About New Flyer
The Company employs over 4,800 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, New Flyer Industries Canada ULC and New Flyer of America Inc., the Company is North Americas 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 Americas leader in motor coaches, offering the MCI J4500, which is the industrys best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industrys best-selling coach line in North American motor coach history. MCI is also the exclusive distributor of the 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 Americas 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.
Further information is available on the Companys 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 being unable to successfully negotiate a new collective bargaining agreement with the union, the union membership may vote to take strike action 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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