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Orange County Transportation Authority Exercises Option to Purchase 20 Xcelsior Articulated Buses - New Flyer Industries Inc. announced that Orange County Transportation Authority (“OCTA”) has approved the purchase of 20 (40 equivalent units or “EUs”) Xcelsior compressed natural gas (CNG) 60-foot articulated heavy-duty buses (TSX: NFI; TSX: NFI.DB.U)
Orange County Transportation Authority Exercises Option to Purchase 20 Xcelsior Articulated Buses

 

PRZOOM - /newswire/ - Winnipeg, Manitoba, Canada, 2013/01/17 - New Flyer Industries Inc. announced that Orange County Transportation Authority (“OCTA”) has approved the purchase of 20 (40 equivalent units or “EUs”) Xcelsior compressed natural gas (CNG) 60-foot articulated heavy-duty buses (TSX: NFI; TSX: NFI.DB.U). TSX: NFI.DB.U

   
 
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The 20 buses were purchased under an umbrella contract with the procurement department of a US State. New Flyer entered into this umbrella contract in January 2012. The contract is a ‘standing offer’ open to any US public transit agencies for up to 650 buses.

Since 1990, New Flyer is proud to have delivered a total of 571 buses to OCTA, whose active transit fleet consists of approximately 592 buses. The building blocks of our growing relationship are based on a long standing partnership that is committed to a quality product, value and support for the life of all their New Flyer buses. OCTA’s growing fleet of environmentally friendly New Flyer CNG buses consists of approximately 300 CNG buses that have been built over the past 6 years.

“New Flyer offers nearly two decades of CNG design and manufacturing expertise. Our system is designed specifically for our buses and our CNG tanks are certified for a 20-year service life,” said Paul Soubry, President and CEO of New Flyer. “Not only do we meet today’s CNG standards and safety requirements, we exceed them. These are just some of the features that we`ve made standard; adding value without the added cost.”

This award was part of the group of firm and option orders for 509 EUs received just prior to the end of 2012 noted in the New Flyer press release of January 9, 2013 as included in the New Flyer backlog, but awaiting approval for the issue of a detailed announcement.

The 20 buses are expected to begin production late in the first quarter of 2013 and are anticipated to be delivered early in the fourth quarter of 2013.

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 2,000 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 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.

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.

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 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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Agency / Source: New Flyer Industries, Inc.

 
 

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Orange County Transportation Authority Exercises Option to Purchase 20 Xcelsior Articulated Buses

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New Flyer Industries Inc. |
Contact: Jon Koffman - NewFlyer.com 
204-224-6672 investor[.]newflyer.com
 
PRZOOM / PRTODAY - Newswire Today 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.

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