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Greater Portland Transit District supports growth with 11 more buses from New Flyer

November 28, 2017 | New Flyer

St. Cloud, Minnesota, USA – November 28, 2017: (TSX: NFI) New Flyer of America Inc. (“New Flyer”), the U.S. subsidiary of New Flyer Industries Inc. (“NFI Group”), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that the Greater Portland Transit District (“METRO”) has ordered for five Xcelsior® compressed natural gas (CNG) forty-foot, heavy-duty transit buses, and six Xcelsior clean diesel forty-foot, heavy-duty transit buses.

The new order, which adds a total of 11 equivalent units to New Flyer’s backlog, supports METRO’s aged fleet replacement with diesel buses, as well as planned fleet expansion with CNG buses to support the growing Portland community.

The Greater Portland region has experienced steady growth since 2010, with Portland named by Forbes as one of America’s 20 Fastest Growing Cities[1]. Throughout 2017, a citywide planning board developed the Portland Plan 2030, which works toward an integrated, sustainable, dynamic, equitable, diverse, and connected city by 2030. A separate initiative by the City of Portland delivered a 2035 Comprehensive Plan for long‐range land use and public facility investment, specifically identifying transportation goals of safety, interconnectedness, environmental sustainability, equitable access, positive health outcomes, and effective daily access. The new plan will take effect January 1, 2018.

“We are proud to support the Greater Portland Transit District as it grows in size and vitality, with more Americans choosing the Portland region as a competitive and sustainable place to live and work,” stated Wayne Joseph, President, New Flyer of America. “We are committed to helping METRO achieve its goals of safe and sustainable public transit, as it pursues achievement of a progressive, innovative, and long-term vision for transportation.”

The Greater Portland Transit District (METRO) is a regional public transportation system in Southern Maine, serving the communities of Brunswick, Falmouth, Freeport, Portland, South Portland, Westbrook and Yarmouth. It is Maine's largest public transportation agency, serving nearly two million riders per year.

NFI Group employs more American workers than any other transit bus manufacturer in North America.

About NFI Group

NFI Group is the largest transit bus and motor coach manufacturer and parts distributor in North America, with 31 fabrication, manufacturing, distribution, and service centers across Canada and the U.S. employing over 5,800 team members.

It is North America's heavy-duty transit bus leader and offers the largest transit bus product line under the brand Xcelsior®, incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, trolley-electric, and battery-electric. NFI Group actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 6,400 are powered by electric and battery propulsion.

NFI Group is also North America’s motor coach market leader offering the Motor Coach Industries Inc. (MCI) J-Series, the industry’s best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry’s best-selling motor coach line in North American history. MCI is also the exclusive distributor of Daimler’s Setra S 417 and S 407 motor coaches in the United States and Canada. MCI actively supports over 28,000 coaches currently in service.

NFI Group also operates North America's most comprehensive parts organization, NFI Parts™, providing parts, technical publications, training, and support for its OEM product lines (transit buses and motor coaches). All buses and coaches are also supported by an industry-leading comprehensive warranty, service, and support network.

Further information is available on NFI Group websites at www.newflyer.com and www.mcicoach.com. The common shares of the NFI Group are traded on the Toronto Stock Exchange under the symbol NFI.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the 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, 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.

For further information, please contact:

Jon Koffman
Investor Relations
Ph: 320-316-4964

[1] https://www.forbes.com/pictures/mhj45mhlf/10-portland-or/#7a80d5e1560b