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Texas’ Brazos Transit and CARTS award contract to New Flyer for up to 28 Xcelsior® buses

November 13, 2018 | New Flyer

St. Cloud, Minnesota, USA – November 13, 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 Brazos Transit District (BTD) along with Capital Area Rural Transportation System (CARTS) has awarded a new contract for up to 28 heavy-duty, thirty-five-foot Xcelsior® clean-diesel transit buses over the next five years.

The contract includes 10 firm orders with options to purchase an additional 18 buses, and establishes a new partnership with New Flyer, bringing the first Xcelsior buses to the joint agencies’ fleet in Texas. Funding for this order comes from the Federal Transportation Administration and the Texas Department of Transportation.

“New Flyer is proud to bring proven transit solutions to the Brazos Transit District and the Capital Area Rural Transportation System, as they work to enhance affordable and convenient transportation service throughout Texas,” said Wayne Joseph, President, New Flyer of America. “With 88 years of experience in manufacturing, we have grown through leading innovation and are proud to support public transit in Central and East Texas, while working toward smart mobility solutions.”

Brazos Transit District is a public transportation provider in the Brazos Valley, serving 16 counties in Central and East Texas, providing over one million trips per year. The Capital Area Rural Transportation System District is a rural/urban transit district providing transit services in a nine-county area surrounding Austin, Texas.

NFI is the only provider of full suite bus solutions in North America, offering transit, motor coach, and low-floor cutaway buses, and in 2018, became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities.

About NFI

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

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.

For media inquiries, please contact:
Lindy Norris
P: 204.792.8424
Lindy_Norris@newflyer.com

For investor inquiries, please contact:
Stephen King
P: 204.224.6382
Stephen_King@newflyer.com