PRZOOM - /newswire/ -
Winnipeg, Manitoba, Canada, 2013/04/08 - New Flyer Industries, Inc. announced that Sun Metro, of El Paso, Texas, has awarded New Flyer a contract for up to 202 Xcelsior™ compressed natural gas (“CNG”) heavy-duty buses (323 equivalent units or “EUs”) (TSX: NFI; TSX: NFI.DB.U) - NewFlyer.com. 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 Sun Metro, of El Paso, Texas, has awarded New Flyer a contract for up to 202 Xcelsior™ compressed natural gas (“CNG”) heavy-duty buses (323 equivalent units or “EUs”).
The five-year contract contains a firm order for 13 CNG 60-foot buses (26 EUs), and nine CNG 40-foot buses. Additionally, the contract includes four, one-year options for up to 108 60-foot CNG buses (216 EUs) and up to 72 40-foot CNG buses.
Sun Metro’s commitment to the environment is evident as this order will increase the number of CNG buses in their fleet of 232 transit buses that are nearly all CNG technology. New Flyer has previously built and delivered 60 buses for El Paso’s fleet, in both liquid and compressed natural gas propulsions. With nearly 20 years of experience developing CNG systems and delivering well over 4,700 CNG buses, New Flyer has gained invaluable experience that benefits our customers with the most advanced CNG bus in the industry. Additional benefits include a 20-year certified CNG tank and a fire-suppression system that comes as a standard feature on all New Flyer natural gas buses.
“Our vision is to improve our community by moving people from their cars to the bus by providing quality passenger experiences and be a model for other systems around the nation,” said Jay Banasiak, Director of Sun Metro, managed by First Transit. “Providing a friendly, reliable service is our objective and our new order of New Flyer Xcelsior buses will help us move forward to obtain it.”
“We feel privileged to partner once again with El Paso as their bus manufacturer,” said Paul Soubry, President and CEO of New Flyer. “This will be El Paso’s first experience with our ‘best in class’ Xcelsior platform. Among the many features of the Xcelsior will increase the efficiency of El Paso’s transit routes and provide a more enjoyable experience for all of its riders.”
The 22, 40-foot and 60-foot buses are anticipated to begin production in the third quarter of 2013 with an expected delivery in the first quarter of 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.
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.