Winnipeg Exercises Contract Extension to Order 70 Additional Transit Buses
Winnipeg, Manitoba, Canada – August 16, 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 Winnipeg, acting through Winnipeg Transit, has awarded New Flyer a contract extension for 70 Xcelsior® clean diesel, forty-foot heavy-duty transit buses, which will be converted from New Flyer’s option backlog to a firm order.
The buses will be deployed on the Winnipeg Transit network in 2018, which moves nearly four million bus riders per month in the city, outpacing national growth rates. The purchase, which utilizes the Canadian Government’s Public Transit Infrastructure Fund (PTIF), supports Winnipeg Transit’s focus on enhancing sustainable transit and transportation solutions.
“We have proudly supported public transportation in our home city for over 30 years now,” said the Company’s President and Chief Executive Officer Paul Soubry. “We greatly appreciate the opportunity to continue building on our relationship with Winnipeg Transit (in this case won through a competitive procurement in 2014), and to see New Flyer buses on our own streets developed by local engineering, innovation, and talent.”
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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