TransLink meets increased demand for sustainable transportation in BC with New Flyer
Winnipeg, Manitoba, Canada – June 4, 2018: (TSX: NFI) New Flyer Industries Canada ULC (“New Flyer”), the Canadian subsidiary of NFI Group Inc., formerly called New Flyer Industries Inc. (“NFI Group”), today announced that the South Coast British Columbia Transportation Authority (“TransLink”) has awarded New Flyer with an order for 47 compressed natural gas (“CNG”) forty-foot, heavy-duty transit buses and 11 diesel-electric hybrid sixty-foot, heavy-duty transit buses (69 total equivalent units).
The bus order will support Coast Mountain Bus Company (“CMBC”), TransLink's largest operating company, providing over 96% of the region's bus service. The new vehicles will help CMBC meet increased demand, with a 5.8% increase in passenger journeys in 2017.
“New Flyer is pleased to support TransLink by providing a low-emission bus that meets TransLink’s economic, environmental, and social requirements,” said Jennifer McNeill, Vice President of Sales and Business Development, New Flyer. “TransLink enables citizens in the Metro Vancouver region to make sustainable transportation choices, and we are thrilled to support the expansion of sustainable transit with Canadian innovation on the road in BC.”
TransLink is Metro Vancouver’s regional transportation authority, maintaining regional transit, cycling, and commuting options as well as Intelligent Transportation System programs. TransLink connects the region to enhance livability by providing a sustainable transit and transportation network for over 247 million trips.
In 2018, New Flyer committed to leading collaboration, cooperation, and the technological advancement of Smart Mobility in North America. It also became a signatory of the Shared Mobility Principles for Livable Cities, which facilitates collaboration in developing multimodal, integrated cities through technology-driven innovation. For information on Shared Mobility Principles, visit https://www.sharedmobilityprinciples.org/.
The NFI Group has over 85 years of experience manufacturing buses in Canada and is focused on advancing vehicle innovation through development of Canadian-based intellectual property and removal of barriers to adopting zero-emission vehicles and autonomous driving technologies.
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 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.
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