Metro Transit Enhances Twin Cities BRT Service with New Flyer Buses
St. Cloud, Minnesota, USA – June 28, 2018: (TSX: NFI) New Flyer of America Inc. (“New Flyer”), the U.S. subsidiary of NFI Group Inc., the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that the Metropolitan Council of Minneapolis has exercised options for six heavy-duty, sixty-foot Xcelsior® clean diesel transit buses (or 12 equivalent units).
The buses will be operated by Metro Transit (“Metro”), which provides an integrated network of buses, light rail, and commuter trains, as well as resources for those who carpool, vanpool, walk or bike in the Twin Cities. These buses will operate along Metro’s new C-line, a bus rapid transit (“BRT”) route.
“New Flyer is proud of its long-term relationship with Metro Transit,” said Wayne Joseph, President, New Flyer of America. “Minnesota is home for both of us, and we are proud to support community growth and economic development by enhancing public transit with advanced transportation solutions built in our own back yard.”
Rapid bus service brings better amenities, faster service, and a more comfortable ride. The C Line is a part of the Penn Avenue Improvements Project and is scheduled to open in 2019, offering service with sixty-foot buses running every ten minutes between downtown Minneapolis and Brooklyn Center.
“The Twin Cities are experiencing economic and population growth with an expected 700,000 new people coming into the area by 2040,” said Metro Transit General Manager Brian Lamb. “BRT and projects like the C Line are essential to the long-term vitality of the Twin Cities.”
Metro is one of the country's largest transit systems, with 130 bus routes covering seven Minnesota counties. Metro plans to connect 200,000 people a day to almost half a million jobs across the region with a new rapid bus network. Ridership along Route C alone is expected to grow to 9,000 rides a day by 2030.
About NFI Group
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
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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