PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: New Flyer Industries, Inc.

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

New Flyer Announces Bus Purchase by The City of Ottawa for OC Transpo - New Flyer Industries Inc. (TSX:NFI.UN) was advised today that Ottawa’s City Council has approved the purchase of 306 new articulated clean diesel buses for approximately C$190 million
New Flyer Announces Bus Purchase by The City of Ottawa for OC Transpo

 

NewswireToday - /newswire/ - Winnipeg, Manitoba, Canada, 2010/04/28 - New Flyer Industries Inc. (TSX:NFI.UN) was advised today that Ottawa’s City Council has approved the purchase of 306 new articulated clean diesel buses for approximately C$190 million. TSX: NFI.DB.U

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Automotive/Trucking/RV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

New Flyer Industries Inc. (TSX:NFI.UN) (“New Flyer” or the “Company”), the leading manufacturer of heavy-duty transit buses in Canada and the United States, was advised today that Ottawa’s City Council has approved the purchase of 306 new articulated clean diesel buses for approximately C$190 million.

This approval includes the exercising of 80 options plus an additional 226 articulated buses under the existing bus procurement contract between Ottawa and New Flyer. These additional 226 buses are not recorded in New Flyer’s backlog as the buses have been added by Ottawa to the contract. The new buses will have the latest D60LFR enhanced design and will be outfitted with: a 2010 EPA compliant Cummins engine, a mini-hybrid cooling package, an anti-graffiti package, smart bus technology for reliability monitoring and an extended industry-leading warranty program.

This purchase allows the City of Ottawa to replace its older articulated bus fleet with modern and fuel efficient D60LFR buses via an innovative arrangement where New Flyer has provided incentive pricing and has agreed to take in trade, OC Transpo’s existing fleet of 226 articulated buses. This fleet was originally built and sold by New Flyer to The City of Ottawa and the current average age of these buses is approximately nine years.

Key benefits of this agreement for Ottawa include: an estimated 26% reduction in fuel consumption and an estimated 15% reduction in maintenance costs, in addition to being an entirely new 60’ articulated bus fleet for the citizens of Ottawa. Further, the upgraded propulsion system saves approximately 1.98M Kgs of NOx and approximately 51.4K Kgs of particulate over the next nine years. This is an estimated reduction to the environmental footprint left by the buses of over 90%.

“This arrangement encompasses a number of groundbreaking commercial features, and aligns very well with our strategy to provide Best Bus Value and Support for Life” said New Flyer’s President and Chief Executive Officer, Paul Soubry. “The new buses will be sold with an extended warranty and will be equipped with smart bus technology (or an advanced vehicle health monitoring system) which will allow New Flyer to assist OC Transpo in optimizing fleet performance and reliability”. While the price for the new buses offered to OC Transpo has been reduced from previous orders, management anticipates that profitability through bus sales, parts sales and used bus sales will provide an appropriate total return to the Company through the life of the bus contract.

New Flyer plans to refurbish the buses that are traded in at its Arnprior, Ontario Service Center and will market the buses for re-sale in both domestic and international markets. New Flyer will provide OC Transpo with a trade-in credit for the used buses that can be applied to New Flyer spare parts and service programs. “This allows the Company to develop key intelligence on the maintenance, monitoring and operation of New Flyer buses from the ground up, while operating in a very close partnership with a substantial operator like OC Transpo”, said Mr. Soubry.

The first buses are expected to enter production in July 2010, with delivery of the new fleet anticipated to start in August 2010, and completed delivery to occur within approximately one year. Management does not anticipate increasing the Company’s production rate at its facilities in Manitoba or Minnesota as a result of this award, “but rather, it permits the Company to level load production” said Mr. Soubry. “Timing of the deal will allow New Flyer to respond to the significant U.S. order deferral that was experienced in 2009. This award also presents the Company with the opportunity to reverse the recent trend of a reduced average number of buses per customer order, largely caused by the previously announced U.S. customer order deferral and to pursue operational excellence goals and ensure the highest quality”.

About New Flyer
New Flyer (is the leading manufacturer of heavy-duty transit buses in the United States and Canada. The Company’s three facilities -- in Winnipeg, MB, St. Cloud, MN and Crookston, MN - are all ISO 9001, ISO 14001 and OHSAS 18001 certified. With a skilled workforce of over 2,000 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 gasoline-electric and diesel-electric hybrid vehicles. All products are supported with an industry-leading, comprehensive parts and service network. The Company’s income deposit securities are traded on the Toronto Stock Exchange under the symbol NFI.UN.

Forward-Looking Statements
This press release may contain forward-looking statements relating to expected future events and financial and operating results of New Flyer and New Flyer Industries Canada ULC (“NFI ULC”) 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 the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR (sedar.com). Due to the potential impact of these factors, New Flyer and NFI ULC disclaim 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.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Automotive/Trucking/RV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: New Flyer Industries, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Automotive/Trucking/RV articles,
CATCH Visitors via Your Competitors Announcements!


New Flyer Announces Bus Purchase by The City of Ottawa for OC Transpo

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

New Flyer Industries Inc. |
Publisher Contact: Glenn Asham - NewFlyer.com 
204-224-1251 press[.]newflyer.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any New Flyer Industries, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Automotive/Trucking/RV via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From New Flyer Industries, Inc. / Company Profile


Read Automotive/Trucking/RV Most Recent Related Newswires:

The NEOPLAN Skyliner Has Been Awarded The ‘International Busplaner Sustainability Prize 2017’
First Transports in Networked Trucks - DB Schenker and MAN Agree on Platooning Project
MAN Truck & Bus Are Placing the New MAN TGE Under Static Scrutiny As Part of A Van Bodybuilders’ Day Today
MAN Lion's Intercity is Russia’s Intercity Bus of the Year
Enel and Nissan Present First All-inclusive Electric Mobility Solution
MAN Truck & Bus Korea Launched MAN Lion’s Touring - The First and Only Cabriolet Bus for Sightseeing Tours in Korea
Influx of Cheap Imports Floods the Automotive Filter Aftermarket Says Frost & Sullivan
BASF Introduces Latest Robust Connectors for Automotive Wire Harnesses
Man Group Announces 100 NEOPLAN Skyliner Coaches for Rome
BASF Introduces Synthetic Leather Made with Elastollan® - Makes Car Seats More Comfortable
Frost & Sullivan Acclaims Federal-Mogul Motorparts' Visionary Solutions and Growth Strategies for the North American Automotive Aftermarket
Borealis and Borouge Showcase Lightweight Solutions with the 2016 European Car of the Year At K Fair
BASF - Charge Air Duct Made from The High-temperature Polyamide Ultramid® Endure BM for Blow Molding
MAN Announces First Major Order from Tbilisi
BASF and Hyundai Motor Showcase RN30 Concept Car At K Fair

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  JobsWare.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)