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| Breaking News: MTA Bus 74 Orion VII CNG contract cancelled, New Flyer will produced (264333) | |||
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Breaking News: MTA Bus 74 Orion VII CNG contract cancelled, New Flyer will produced |
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Posted by Gold_12TH on Thu Jul 26 12:09:35 2012 Orion assigns FTA-funded New York City transit contract for 74 CNG buses to New Flyer New Flyer Industries Inc. NFI.UN 7/26/2012 10:28:00 AM Orion assigns FTA-funded New York City transit contract for 74 CNG buses to New Flyer WINNIPEG, July 26, 2012 /CNW/ - (TSX:NFI, TSX:NFI.UN, TSX:NFI.DB.U) New Flyer Industries Inc. ("New Flyer" or the "Company"), the leading manufacturer of heavy-duty transit buses in Canada and the United States, announced today that Daimler Buses North America, Inc ("DBNA"), has assigned to New Flyer its contract with New York City Transit Authority and the MTA Bus Company (together, "NYCT") to build 74 heavy-duty 40-foot CNG buses. The contract includes an additional 30 option buses that will not be ordered at this time. This assignment is a result of DBNA's decision announced on April 25, 2012 to exit production of heavy duty transit buses for the US and Canadian markets. The base order for the assigned US Federal Transit Administration funded contract (74 buses) will commence production in August 2012, all of which are expected to be delivered to NYCT by the end of the year. Final assembly of these buses will take place in New Flyer's Crookston, Minnesota facility. The buses will be virtually identical to New Flyer's existing contract with NYCT for 385 buses currently in production. This contract assignment further extends the long standing partnership between New Flyer and NYCT by providing a proven and reliable product, supported by New Flyer warranty, service and lifetime customer care. "Delivering to NYCT requirements was our top priority," said Paul Soubry, New Flyer's President and Chief Executive Officer. "We are pleased that we could react so quickly due to DBNA's transition plan with a solution that met NYCT needs by continuing the build of our current bus production run." This assigned contact was part of the group of orders for 483 new buses (613 equivalent units or "EUs") and options for 40 buses (60 EUs) noted in the New Flyer press release of July 16, 2012 as pending from a number of customers where approval had been granted by the customer's board, council, or commission, as appropriate, but purchase documentation had not yet been received by the Company and therefore not yet included in the backlog. ---http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8573552 |
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