Edmonton Awards New Flyer a Contract for 110 Clean Diesel Buses
Winnipeg, Manitoba, Canada – August 15, 2017: (TSX: NFI) New Flyer Industries Canada ULC (“New Flyer”), the Canadian subsidiary of New Flyer Industries Inc. (the “Company”), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that the City of Edmonton has awarded New Flyer with a contract for 110 Xcelsior® clean diesel, forty-foot heavy-duty transit buses, as well as options to purchase an additional 120 buses. This new award will add a total of 230 equivalent units to New Flyer’s firm and option backlog.
The buses will be deployed on the Edmonton Transit Service (ETS) network starting 2018, supporting routes that move more than 300,000 people per day. Edmonton’s replacement of aging fleet vehicles with more efficient, air-conditioned models supports an ETS goal of transforming the transit experience.
“For over 20 years we have supported Edmonton’s innovative growth and development with New Flyer buses,” said Paul Soubry, President and Chief Executive Officer of the Company. “We are proud to support Edmonton’s continued transformation as it expands public transit infrastructure, and focuses on clean energy, sustainability, and safe, accessible public transportation.”
About The Company
The Company is the largest transit bus and motor coach manufacturer and parts distributor in North America with fabrication, manufacturing, distribution and service centers across Canada. It employs over 5,400 team members.
The Company is North America’s heavy-duty transit bus leader and offers the broadest transit bus product line under the brand Xcelsior®, incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, trolley-electric, and battery-electric. New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 6,400 are powered by electric and battery propulsion.
The Company is also North America’s motor coach market leader offering the Motor Coach Industries (MCI) J-Series, the industry’s best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry’s best-selling motor coach line in North American history. MCI is also the exclusive distributor of Daimler’s Setra S 417 and S 407 motor coaches in the United States and Canada. MCI actively supports over 28,000 coaches currently in service.
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 of the Company are traded on the Toronto Stock Exchange under the symbol NFI.
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 suspend or 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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