12/03/2018 | Press release | Distributed by Public on 12/03/2018 17:36
St. Cloud, Minnesota, USA - December 3, 2018: (TSX: NFI) New Flyer of America, Inc. ('New Flyer), a subsidiary of NFI Group Inc. ('NFI'), the largest transit bus and motor coach manufacturer in North America, today announced that the City of Albuquerque has issued a contract to purchase ten clean diesel sixty-foot Xcelsior® heavy duty transit buses (20 equivalent units or 'EUs') from New Flyer of America Inc. with an option for additional units in the future.
The City of Albuquerque Transit Department ('ABQ Ride') is responsible for all bus and paratransit operations in the Albuquerque metro area. The city issued a recommendation of award for sixty foot, articulated, 5 door clean diesel buses to New Flyer under a 2016 solicitation. The purchase of these buses and their special features will allow their use throughout the Albuquerque transit system.
'New Flyer has deployed more five-door BRT buses than any other manufacturer in the United States,' said Wayne Joseph, President, New Flyer of America. 'We are very excited to work with Albuquerque on this purchase and have adjusted our 2019 build schedule to accommodate Albuquerque's order'.
New Flyer has over 30 years' experience manufacturing high-capacity articulated buses, with over 7,000 delivered since 1988. New Flyer's BRT buses are available with the widest range of drive systems in North America. New Flyer is currently the only manufacturer with successful completion of the Federal Transportation Administration Altoona Testing requirements for sixty-foot articulated buses; ensuring the buses exceed safety and quality requirements thereby qualifying for federal funding.
NFI is the only provider of full suite bus solutions in North America, offering transit, motor coach, and low-floor cutaway buses, and in 2018, became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities.
About NFI Group
With over 6,000 team members, operating from 31 facilities across Canada and the United States, NFI is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under several brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts™ (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell). For the fiscal year ended December 31, 2017, NFI posted revenues of US $2.4 billion. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.
About New Flyer
New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE™ brands. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.newflyer.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group 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 purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to suspend or terminate contracts for convenience 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, the NFI Group 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.
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