City of Phoenix Exercises Option for 30 More CNG Buses With New Flyer
St. Cloud, Minnesota, USA – September 26, 2017: (TSX: NFI) New Flyer of America Inc. (“New Flyer”), the U.S. 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 Phoenix Public Transit Department has exercised an option with New Flyer for thirty more Xcelsior® compressed natural gas (CNG) buses, consisting of 16 forty-foot heavy-duty transit buses, and 14 (or 28 equivalent units) sixty-foot heavy-duty transit buses, which will be converted from New Flyer’s backlog to a firm order.
The option is part of a contract approved in November 2014, and will be deployed on City of Phoenix commuter (RAPID®) routes starting 2018.
“Following a recent award to the City of Phoenix, New Flyer is proud to again support expansion of the City’s fleet with low-emission buses as it pursues its Transportation 2050 plan,” stated Wayne Joseph, President of New Flyer of America. “We pride ourselves on delivering safe and reliable buses built in America, and are dedicated to supporting growth of Phoenix bus ridership with sustainable solutions that help connect communities.”
The City of Phoenix Public Transit Department provides Phoenix residents a variety of transit options and is the largest member of the Valley Metro regional transit system, delivering more than 34 million bus trips per year in the City of Phoenix.
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 America. It employs over 5,600 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 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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