Student Transportation Of Canada Converts Yellow School Bus Fleet To ‘Green’
Company Pioneers Use of Environmentally Friendly Biofuels to
Lower Emissions, Create Healthier Environment for Children
TORONTO (March 31, 2008) Student Transportation of Canada (STC), a subsidiary of Student Transportation of America (STA) (TSX: STB, STB.UN), today announced the expansion of its biodiesel fuel program to more than 235 of its fleet of 1,000 yellow school buses operating throughout Ontario.
Biodiesel, made from natural renewable resources such as soybean, corn and canola oils, is North America’s fastest growing alternative to diesel fuel, producing cleaner emissions and cost savings. By choosing a cleaner fuel alternative for its fleet, STC will provide a healthier environment for its young passengers, school bus drivers and the community at large.
“At STC, we all share a common concern for our children’s health and the environment,” said Chris Harwood, senior vice president of operations for STC. “Realizing a 40 percent reduction in greenhouse gases and reducing tailpipe emissions are our primary objectives for the conversion. The added bonus for the company, and our customers, is that cleaner biodiesel fuels also cost less and reduce wear-and-tear on our engines further reducing maintenance costs.”
In the coming months, STC plans to implement similar biodiesel conversions of company-controlled fuel supplies throughout the Province increasing the long-term benefits to the environment and Ontario communities. In addition to Simcoe Coach Lines in Sutton and Parkview Transit in Caledon, Bradford, Newmarket and Collingwood, the STC family of companies includes Ayr Student Transportation in Breslau; Elliott Coach Lines in Guelph, Elmira and Fergus; and an STC location in Peterborough.
About Student Transportation
Founded in 1997, Student Transportation is the fourth-largest provider of school bus transportation services in North America, conducting operations through local operating subsidiaries. Student Transportation has become a leading school bus transportation company by aggregating operations through the consolidation of existing providers and conversion of in-house operations and currently operates more than 5,000 school vehicles in North America. For more information, please visit www.sta-ips.com
This news release contains “forward-looking statements” within the meaning of applicable securities laws, which reflects the expectations of management regarding STA’s results of operations, expense levels, cost of capital, financial leverage, seasonality, cash flows, performance, liquidity, borrowing availability, financial ratios, ability to execute the STA’s growth strategy and cash distributions. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “track”, “targeted”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events. These forward looking statements reflect STA’s current expectations regarding anticipated future events, results, circumstances, performance or expectations, which are not historical facts. Forward looking statements involve significant risks and uncertainties, and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not or the times at which or by the performance or results will be achieved. A number of factors could cause our actual results to differ materially from the results discussed, expressed or implied in any forward-looking statement made by us or on our behalf, including, but not limited to the factors discussed under “Risk Factors” in our Annual Information Form. These forward looking statements are made as of the date of this news release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Student Transportation of America Ltd.
Denis J. Gallagher
Chairman and Chief Executive Officer
Patrick J. Walker
Executive Vice President and Chief Financial Officer
Keith P. Engelbert
Director of Investor Relations