ST. CLOUD, MN, April 11, 2018 /CNW/ - (TSX: NFI) New Flyer of
America Inc. ("New Flyer"), a subsidiary of NFI Group Inc. ("NFI"),
the leading bus manufacturer in North
America, today announced that the Valley Metro Regional
Public Transportation Authority ("RPTA" or "Valley Metro") has
exercised options for 24 additional Xcelsior®
forty-foot, compressed natural gas (CNG) heavy-duty transit
buses.
The order will replace older buses currently operating on
regional routes in support of Valley Metro's 2016-2020 strategic
plan to advance the value of transit throughout the metropolitan
Phoenix area. The original
contract awarded November 2017 (a
joint effort with the City of Phoenix Public Transit) included up
to 396 buses over a five-year period, and is supported by funding
from both the Federal Transit Administration and local sources.
Seventy percent of the Valley Metro fleet are powered by natural
gas to support local clean air initiatives.
Valley Metro is the regional public transportation agency that
provides coordinated, multimodal transit options to the residents
and visitors of greater Phoenix,
with 51 million passenger trips on its buses in 2018. Valley Metro,
in coordination with its 18 member agencies, plans, constructs and
operates the regional bus and light rail systems and alternative
transportation programs for riders of all ages, backgrounds, and
abilities.
"Since 2006, New Flyer has delivered 314 heavy-duty transit
buses to Valley Metro," said Chris
Stoddart, President, New Flyer. "We're proud to support
Valley Metro's deployment of even more low emission CNG buses into
a fleet that is already comprised of 91 percent alternatively
fueled vehicles."
New Flyer has been leading innovation in transit for over 85
years. In 2017, it opened the Vehicle Innovation Center, the first
and only innovation lab of its kind dedicated to advancing bus and
coach technology, and in 2018 became the first bus manufacturer in
the world to sign on to the Shared Mobility Principles for Livable
Cities. NFI Group is the only provider of full suite bus solutions
in North America, offering
transit, motor coach, and low-floor cutaway buses.
About NFI
With over 6,300 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 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) on proven bus platforms. It also supports
infrastructure development through New Flyer Infrastructure
Solutions™, a service dedicated to providing safe and reliable
charging and mobility solutions. In total, NFI supports over 74,000
buses and coaches currently in service across North America. For the fiscal year ended
December 30, 2018, NFI posted
revenues of US $2.5 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. It
also offers infrastructure development through New Flyer
Infrastructure Solutions™, a service dedicated to providing safe,
sustainable, and reliable charging and mobility solutions. 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.
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.