New Flyer Announces Order for 100 Buses from the Chicago Transit Authority with Delivery Starting in 2012
WINNIPEG, May 14, 2012
WINNIPEG, May 14, 2012 /CNW/ - (TSX:NFI, TSX:NFI.UN) New Flyer
Industries Inc. ("New Flyer" or the "Company"), the leading
manufacturer of heavy-duty transit buses in Canada and the United
States, today announced an order for 100 60-foot articulated buses for
the Chicago Transit Authority (CTA) in support of their fleet renewal
and customer enhancement strategies.
The order for 100 low-floor articulated buses (200 equivalent units) was
placed using options from another US transit agency, and is worth US
$80.1M. The 67 clean-diesel buses (D60LFR) and 33 hybrid
diesel-electric buses (DE60LFR) are ideal for high-capacity,
high-frequency routes and assist with reducing road congestion.
New Flyer will commence building the buses in 2012, with all deliveries
completed by mid-year 2013. The last purchase of heavy-duty transit
buses by the Chicago Transit Authority was in 2009 - and was also with
New Flyer. The CTA currently operates 1,780 transit buses in their
fleet, 1,258 of which are New Flyer buses.
"We are excited to grow our partnership with the Chicago Transit
Authority," Paul Soubry, President and CEO of New Flyer said. "The
60LFR series are a proven heavy-duty low-floor bus design, known for
its durability and dependability, with over 4,500 delivered to more
than 60 transit agencies across North America. They provide a great
experience for up to 115 passengers and meet CTA's exacting standards
for comfort and climate control."
Each bus will be equipped with New Flyer Connect™, New Flyer's onboard
remote vehicle management system. New Flyer Connect™ enables the CTA
to achieve the best performance and safety out of their buses by
providing the right information, to the right people at the right
time. Real time problem reporting of operational and vehicle health
data provides transit authorities with the ability to monitor and
improve fuel economy, schedule preventative maintenance and ensure that
the vehicle operates safely.
The order for 60LFR series buses is backed by New Flyer's lifetime
in-service support and care, providing best value in direct operating
costs for the CTA. The buses will be provided with:
A dedicated New Flyer Life Cycle Manager, who will oversee the full
range of products, services and support provided by the New Flyer team.
Regionally based service representatives and warehouses providing
technical expertise and spare parts support.
Tailored classroom and e-Learning programs designed to provide the CTA's
employees with training to optimize bus operation and maintenance.
Simple yet comprehensive new product warranty, administered through the
New Flyer iWarranty System.
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. The Company's three manufacturing
facilities - in Winnipeg, MB; St. Cloud, MN; and Crookston, MN - are
all ISO 9001, ISO 14001 and OHSAS 18001 certified. The Company
currently operates a parts fabrication facility in Elkhart, IN and four
PDCs in Winnipeg, MB; Erlanger, KY; Fresno, CA and Brampton, 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.
All products are supported with an industry-leading, comprehensive
parts and service network. Further information is available on New
Flyer's web site at www.newflyer.com.
The common shares and income deposit securities of New Flyer are traded
on the Toronto Stock Exchange under the symbols NFI and NFI.UN,
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 economic conditions of and funding availability for
customers to purchase buses and to exercise options for buses and to
purchase parts or services 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, 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.