LAKETRAN UPGRADES COMMUTER FLEET, TAKES DELIVERY OF 10 COMMUTER COACHES
AHEAD OF SCHEDULE FROM MCI, WILL ADD 4 MORE
DES PLAINES, ILLINOIS, APRIL 28, 2016: (TSX:NFI) (TSX:NFI.DB.U) Motor Coach Industries ("MCI"), a subsidiary of New Flyer Industries Inc. (the "Company"), the largest bus and motor coach manufacturer in North America announced today that Laketran, the regional public transportation system in Lake County, Ohio, received 10 new MCI Commuter Coaches three months ahead of schedule, and has exercised an option for four more coaches.
The 40-foot coaches will serve the weekday service operating 18 daily departures from nine Park-n-Ride locations connecting Lake County with downtown Cleveland, and operate in its Bus-on-Shoulder service on the I-90/SR-2 westbound and eastbound shoulders when traffic is traveling less then 30 miles per hour.
"It's exciting. Now that (the 10 buses) have arrived, we must finish multiple internal inspections of the buses and then transfer our fareboxes, rangers and radios to the new buses before we can put them into operation," Laketran's General Manager Ray Jurkowski told The News-Herald. Laketran expects its newest coaches to be serving commuters by late spring, with a launch and ribbon-cutting ceremony planned at its headquarters in Painesville Township, Ohio on June 2.
The MCI Commuter Coaches replace buses purchased in 1998 and are funded with federal Congestion Mitigation Air Quality grants and matching funds through local sales tax revenue.
The new commuter coaches feature plush, forward facing seating and overhead parcel racks with individual reading lights and airflow controls. Engineered to provide a comfortable, safe ride on express and highway routes, Laketran's new coaches are each equipped bike racks, a wheelchair lift, on-board security cameras, and the latest clean-diesel engine technology for near-zero emissions. The model, 2015's best-selling coach, also offers ease of maintenance and low total cost of operation.
"Laketran provides critical service for Cleveland commuters, and the transit operation has been serving Lake County for more than 40 years," said Tom Wagner, MCI Vice President of Public Sector Sales. "We are proud to be Laketran's commuter coach provider as the organization upgrades its fleet with the latest in commuter technology. Laketran and MCI have a common goal: convincing drivers in bumper-to-bumper traffic to join their fellow Lake County residents who see the many great benefits of riding in style on a new MCI Commuter Coach," he said.
Laketran coaches deliver 175,000 commuter express trips to and from Cleveland annually.
The Company employs approximately 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, Motor Coach Industries Limited and Motor Coach Industries, Inc. (together, “Motor Coach Industries”), 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 S 417 and S 407 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.
Through its Canadian and U.S. subsidiaries, New Flyer Industries Canada ULC and New Flyer of America Inc. (together, "New Flyer"), 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.
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.
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.
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. 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, dividends are not guaranteed and will be declared in the discretion of the Company's board of directors based on the Company's financial position, liquidity and business requirements and future prospects, the covenants contained in the Company's senior credit facility could impact the ability of the Company to fund dividends and the other risks and uncertainties detailed in the disclosure documents 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.
For further information, please contact:
Patricia Plodzeen Public Relations,
Jon Koffman, Investor Relations
Motor Coach Industries - A New Flyer company: Corporate Address 200 East Oakton Street, Des Plaines, Illinois 60018 | Phone: 866-MCICOACH
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