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Winnipeg, Manitoba, Canada, 2013/04/01 - New Flyer Industries, Inc. announced that the City of Phoenix Public Transit Division has exercised options assigned from a New Flyer contract with another Arizona transit agency, for 120 40-foot low-floor compressed natural gas (“CNG”) heavy-duty buses. TSX: NFI.DB.U
(TSX:NFI; TSX:NFI.DB.U) New Flyer Industries, Inc. (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced today that the City of Phoenix Public Transit Division has exercised options assigned from a New Flyer contract with another Arizona transit agency, for 120 40-foot low-floor compressed natural gas (“CNG”) heavy-duty buses.
New Flyer has proudly built low-floor buses for the City of Phoenix dating back to 1994 and has built 267 buses for them since that time. This newly awarded contract is for the New Flyer low-floor CNG model and will replace liquid natural gas buses currently in active service on dedicated service routes. These buses will be the first CNG buses for the City of Phoenix and will be equipped with features such as an electric fan cooling system. All New Flyer buses are supported by New Flyer’s warranty, service and lifetime customer care programs.
“Building lasting relationships are so important to us, and we are proud of the opportunity to continue to build for the City of Phoenix,” said Paul Soubry, President and CEO of New Flyer. “The foundation of our relationship dates as far back as the launch of our CNG system, nearly two decades ago.”
The 120 buses are anticipated to begin production in the fourth quarter of 2013 and will be completely manufactured and assembled at New Flyer of America’s St. Cloud, Minnesota manufacturing facility. All buses are expected to be delivered in 2014.
About New Flyer
New Flyer (newflyer.com) is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company’s three manufacturing facilities in St. Cloud, MN; Crookston, MN; and Winnipeg, MB are all ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company currently operates a parts fabrication facility in Elkhart, IN and four parts distribution centers in Erlanger, KY; Fresno, CA; Winnipeg, MB and Brampton, ON. The Company also operates a service center in Arnprior, ON.
With a skilled workforce of over 2,200 employees, New Flyer is a technology leader, offering the broadest product line in the industry, including drive systems powered by clean diesel, LNG, CNG and electric trolley as well as energy-efficient diesel-electric hybrid vehicles. New Flyer has delivered over 32,000 heavy-duty buses in the United States and Canada. All products are supported with an industry-leading, comprehensive parts and service network. Further information is available on New Flyer’s website.
The common shares and convertible unsecured subordinated debentures of New Flyer 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 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.