ST. CLOUD, MN, Nov. 13, 2018 /CNW/ - (TSX: NFI) New Flyer of
America Inc. ("New Flyer"), the U.S. subsidiary of NFI Group Inc.
("NFI"), the largest transit bus and motor coach manufacturer and
parts distributor in North
America, today announced that Brazos Transit District (BTD)
along with Capital Area Rural Transportation System (CARTS) has
awarded a new contract for up to 28 heavy-duty, thirty-five-foot
Xcelsior® clean-diesel transit buses over the next five
years.
The contract includes 10 firm orders with options to purchase an
additional 18 buses, and establishes a new partnership with New
Flyer, bringing the first Xcelsior buses to the joint agencies'
fleet in Texas. Funding for this
order comes from the Federal Transportation Administration and the
Texas Department of Transportation.
"New Flyer is proud to bring proven transit solutions to the
Brazos Transit District and the Capital Area Rural Transportation
System, as they work to enhance affordable and convenient
transportation service throughout Texas," said Wayne
Joseph, President, New Flyer of America. "With 88 years of
experience in manufacturing, we have grown through leading
innovation and are proud to support public transit in Central and East
Texas, while working toward smart mobility
solutions."
Brazos Transit District is a public transportation provider in
the Brazos Valley, serving 16 counties in Central and East
Texas, providing over one million trips per year. The
Capital Area Rural Transportation System District is a rural/urban
transit district providing transit services in a nine-county area
surrounding Austin, Texas.
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
With nearly 6,000 team members, operating from 32 facilities
across Canada and the United States, NFI Group Inc. 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 Group's 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 Group posted
revenues of US $2.4 billion.
NFI Group Inc. 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 44,000 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
Forward-Looking Statements
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.
SOURCE New Flyer of America Inc.