RTC expands high-capacity transit in Las Vegas Valley with 55 buses from New Flyer
St. Cloud, Minnesota, USA – September 4, 2018: (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 the Regional Transportation Commission of Southern Nevada (“RTC”) exercised options for two orders: one for 40 sixty-foot compressed natural gas (“CNG”) and 15 forty-foot CNG Xcelsior® heavy-duty transit buses (for a total of 95 equivalent units or “EUs”).
The buses represent executed options from New Flyer’s contract with RTC which began in 2015. New Flyer has delivered 146 Xcelsior CNG buses to RTC since 2013, of which 81 were high-capacity, sixty-foot transit buses.
“New Flyer is proud to be an innovator in the heavy-duty transit bus industry, increasing efficiency and reducing greenhouse gases with versatile propulsion solutions,” said Wayne Joseph, President of New Flyer of America. “We have a great relationship with the RTC and look forward to continuing that partnership with low-emission, high-capacity buses that improve transit mobility while eliminating emissions.”
RTC is a regional entity overseeing public transportation, traffic management, transportation and funding for Southern Nevada, and delivered over 63 million boardings in 2017 in the greater Las Vegas Valley.
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. It is the only provider of full suite bus solutions in North America, offering transit buses, motor coaches, and low-floor cutaway buses.
With nearly 6,000 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 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 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 posted revenues of US $2.4 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. 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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