WINNIPEG, March 10, 2016 /CNW/ - (TSX: NFI) (TSX: NFI.DB.U) New Flyer of America Inc., a subsidiary of
New Flyer Industries Inc. ("New Flyer" or the "Company"), the leading
manufacturer of heavy-duty transit buses and motor coaches in the
United States and Canada, announced today that Long Beach Transit
awarded New Flyer a contract for up to 129 heavy-duty 40-foot Xcelsior® compressed natural gas ("CNG") buses.
The contract includes a firm order for 40 Xcelsior XN40 buses valued at
approximately $22 million, with options for an additional 89 units over
the next 5 years. The initial order will replace older vehicles in
Long Beach Transit's current fleet with new fuel efficient Xcelsior
XN40 buses.
Long Beach Transit currently serves over 28 million annual riders with a
fleet of 249 vehicles in fixed route service in the Orange County and
Los Angeles County area.
NOTE: All dollar amounts are stated in U.S. currency.
About New Flyer
The Company employs over 5,000 team members and is the largest transit
bus and motor coach manufacturer and parts distributor in North America
with fabrication, manufacturing, distribution and service centers in
Canada and the United States.
Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada
ULC and New Flyer of America Inc., the Company is North America's
heavy-duty transit bus leader and offers the broadest transit bus
product line (Xcelsior® and MiDi® models), incorporating the broadest range of drive systems available,
including: clean diesel, natural gas, diesel-electric hybrid,
electric-trolley and now battery-electric. New Flyer actively supports
over 42,000 heavy-duty transit buses (New Flyer, NABI and Orion)
currently in service.
Through its Canadian and U.S. subsidiaries, Motor Coach Industries
Limited and Motor Coach Industries, Inc., the Company is North
America's leader in motor coaches, offering the MCI J4500,which is the
industry's best-selling intercity coach for 11 consecutive years, and
the MCI D-Series, the industry`s best-selling coach line in North
American motor coach history. MCI is also the exclusive distributor of
Setra S417 and S407 in the United States and Canada. MCI actively
supports over 28,000 motor coaches currently in service and offers
24-hour roadside assistance 365 days a year.
The Company also operates North America's most sophisticated 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.newflyer.com and www.mcicoach.com.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.
Forward-Looking Statements
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 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
SOURCE New Flyer Industries Inc.