OAK PARK, Michigan,
January 12, 2012 /PRNewswire/ --
- Purolator currently operates 555 units, making it the world's
largest fleet of Azure's Balance™ Hybrid Electric vehicles
- This 1000th unit also represents Purolator's 200th unit
received in 2011, as part of its previous 600 unit order to be
delivered over a three-year period
- Azure Dynamics Corporation is the world's #1 provider of hybrid
electric powertrain solutions in the medium-duty commercial hybrid
truck (Class 2c-5) market with approximately 50% share
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or
the "Company"), a world leader in the development and production of
hybrid electric and electric components and powertrain systems for
light and medium duty commercial vehicles, today announced that it
has delivered its 1000th
Balance[TM] Hybrid Electric Truck
to Purolator, Azure's largest customer. This unit also
represents Purolator's 200th Hybrid Electric truck
received in 2011, which is part of its previous record 600 unit
order providing for 200 units being delivered in 2011 with an
additional 200 units scheduled in both 2012 and 2013, subject to
annual authorizations by Purolator.
"This is a significant milestone in Azure's history and is
fitting that Purolator be the recipient of this 1000th
vehicle," said Scott Harrison, Chief
Executive Officer of Azure. "Purolator continues to be our
largest volume customer and consistently demonstrates a strong
commitment to the environment by adding cleaner, greener
Balance[TM] Hybrid Electric
vehicles to its fleet."
"Purolator is proud to receive Azure Dynamics' 1000th
Balance[TM] Hybrid Electric Truck
- a noteworthy achievement we gladly celebrate with the Azure team
as we add to North America's
largest hybrid-electric pick-up and delivery fleet," said
Tom Schmitt, Purolator's President
and CEO. "As we receive our 555th
Balance[TM] Hybrid Electric Truck,
I am proud to point out that working alongside Azure Dynamics has
helped Purolator to consistently deliver industry leading on-time
service and reliability to our customers in a sustainable
manner."
Purolator operates a fleet of 3,500 vehicles and, as the recent
recipient of the Logistics Quarterly Third-Party Logistics
Sustainability Award, delivers Canada to and from more markets in the U.S. -
growing globally in a sustainable manner while contributing to the
well-being of the communities in which its over 11,500 teammates
live, work and play. In 2005, Purolator was the first express
transportation company in Canada
to introduce hybrid electric vehicles.
The Azure Balance[TM] Hybrid
Electric vehicles ordered by Purolator are integrated on a Ford
E450 chassis with a Ford 5.4L gasoline engine. The hybrid electric
drive train which features unique attributes such as engine-off at
idle and below 20 miles per hour, while electronically supporting
key ancillary functions like power steering and braking, is ideally
suited for commercial activity in urban environments.
For more information on how Azure Dynamics powertrains are
'Driving a World of Difference:' please visit
http://www.azuredynamics.com
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world
leader in the development and production of hybrid electric and
electric components and powertrain systems for light and medium
duty commercial vehicles. Azure is strategically targeting the
commercial delivery vehicle and shuttle bus markets and is
currently working internationally with a variety of partners and
customers. The Company is committed to providing customers and
partners with innovative, cost-efficient, and
environmentally-friendly energy management solutions. For
more information please visit http://www.azuredynamics.com.
The TSX Exchange does not accept
responsibility for the adequacy or accuracy of this release.
About Purolator
Purolator is Canada's leading
integrated freight and parcel solutions provider. Celebrating 50
years of delivering Canada, the
company continues to expand its reach to more people, more
businesses and more places across the country and around the world.
Purolator is proud of its Canadian heritage and is positioning
itself for future growth and success. As the recent recipient of
the Logistics Quarterly Third-Party Logistics Sustainability Award,
Purolator is growing globally in a sustainable manner while
contributing to the well-being of the communities where its over
11,500 teammates live, work and play.
Forward-Looking Statements
Advisory
Certain information included in this press release
constitutes forward-looking statements and information and
future-oriented financial information under applicable securities
legislation and is provided for the purpose of expressing
management's current expectations and plans for the
future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes, such as
making investment decisions.
More particularly, this press release
contains statements concerning Azure's anticipated: business
development strategy, customer orders, product deliveries, sales,
revenue and revenue growth. The forward-looking statements are
based on a number of key expectations and assumptions made by
Azure, including expectations and assumptions concerning
achievement of current timetables for development programs and
sales, target market acceptance of Azure's products, current and
new product performance, availability and cost of labor and
expertise, and evolving markets for power for transportation
vehicles. Although Azure believes that the expectations and
assumptions used to develop the forward-looking statements are
reasonable, undue reliance should not be placed on the
forward-looking statements because Azure can give no assurance that
they will prove to be correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve numerous risks and
uncertainties that contribute to the possibility that the
projections and forecasts in the forward-looking statements will
not occur and that actual performance or results could differ
materially from those anticipated in the forward-looking
statements. These risks and uncertainties include, but are not
limited to, the risks associated with Azure's stage of development,
history of losses and lack of historical product revenues,
uncertainty as to product development and sales milestones being
met, product defect and performance risks, competition for capital
and market share, uncertainty as to target markets, dependence upon
third parties, changes in environmental laws or policies,
uncertainty as to patent and proprietary rights, availability and
retention of management and key personnel, exchange rate and
currency fluctuations, uncertainties relating to potential delays
or changes in plans with respect to product development or capital
expenditures, the ability of Azure to access sufficient capital on
acceptable terms, and environmental and safety risks. This is not
an exhaustive list and additional information on these risks and
other factors that could affect Azure's operations and financial
results are included in reports on file with the Canadian
securities regulatory authorities and can be accessed through the
SEDAR website at http://www.sedar.com.
The forward-looking statements contained in this press
release are made as of the date hereof and Azure undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws. Additionally, Azure undertakes no
obligation to comment on the expectations of, or statements made
by, third parties about Azure.
For further information: Juris
Pagrabs, Vice President, Investor Relations, +1-248-298-2403
ext 7570, Email: jpagrabs@azuredynamics.com
