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Winnipeg, Manitoba, Canada, 2013/12/12 - New Flyer Industries, Inc. (“New Flyer” or the “Company”) announced that the City of Glendale, California has taken delivery of ten 40-foot low floor compressed natural gas (“CNG”) buses [TSX: NFI] [TSX: NFI.DB.U] - NewFlyer.com. TSX: NFI.DB.U
New Flyer Industries Inc., the leading manufacturer of heavy-duty transit buses in the United States and Canada, announced today that the City of Glendale, California has taken delivery of ten 40-foot low floor compressed natural gas (“CNG”) buses. The ten buses were options under an existing contract signed in September 2008 for up to 90 40-foot heavy-duty CNG buses. There are no units remaining in this New Flyer 5-year contract which expired in September 2013.
Since 2001, the City of Glendale has purchased forty New Flyer low floor buses, including these ten new buses. These buses will be used on Glendale Beeline where the fleet is now entirely composed of New Flyer buses. “With the December 2013 delivery, Glendale Beeline becomes the first public transit agency in Los Angeles County to operate with all low floor buses,” stated Kathryn Engel, Transit Manager for the City.
New Flyer`s low floor transit buses provide step free entrance ways, offering improved passenger accessibility and maneuverability. The Glendale buses have also been built with the most advanced engine cooling system built by EMP (Engineered Machined Products), using electronically controlled fans. These electric fans are designed to significantly improve engine cooling, increase fuel economy, reduce emissions and increase overall operating efficiencies.
“We are proud to be given the opportunity to once again build for the City of Glendale,” said Paul Soubry, President and Chief Executive Officer of New Flyer industries. “New Flyer has nearly 20 years of experience developing CNG systems. Having delivered well over 5,000 CNG buses to more than 75 customers to date, New Flyer has gained invaluable experience that benefits our customers with the most advanced CNG bus in the industry.”
About New Flyer
New Flyer (newflyer.com), with its recently acquired NABI Bus, LLC subsidiary, is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company is the industry technology leader and offers the broadest product line including drive systems powered by: clean diesel, natural gas and electric trolley as well as energy-efficient diesel-electric hybrid vehicles. All buses are supported by an industry-leading comprehensive warranty and support program, and service network. New Flyer and its subsidiaries NABI Bus, LLC and NABI Parts, LLC also operate the transit industry’s most sophisticated aftermarket parts organization, sourcing parts from hundreds of different suppliers and providing support for all types of heavy-duty transit buses.
The New Flyer group of companies employ over 3,000 team members with manufacturing, fabrication, parts distribution and service centers in both Canada and the United States.
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 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.