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TSX: NFI,OTC:NFYEF, OTC: NFYEF, TSX: NFI,OTC:NFYEF.DB) Today, NFI Group Inc.'s (NFI) subsidiary, New Flyer Industries Canada ULC (New Flyer), announced an order from OC Transpo (City of Ottawa) for 50 New Flyer Xcelsior ® 60-foot clean-diesel buses. The order, made under a Metrolinx contract, will replace aging buses currently in service and support more reliable, robust transit for riders across the capital region. The contract is valued at approximately $75 million CAD and includes 100 equivalent units, which have been added to New Flyer's Q2 backlog.
"OC Transpo continues to modernize its fleet with high-capacity articulated buses that support the growing needs of Ottawa's communities," said Chris Stoddart, President, North American Bus and Coach, NFI. "The New Flyer clean-diesel articulated bus provides best-in-class passenger capacity, accessibility, and comfort, while reinforcing our long-standing partnership with OC Transpo."
This purchase marks Ottawa's fourth order of New Flyer buses in the past two years, and they recently invested in New Flyer battery-electric 40-foot heavy-duty buses.
OC Transpo operates Ottawa's integrated transit system, including bus, O-Train light rail, and Para Transpo service, moving nearly 100 million annual customer trips across the city.
With this order, NFI continues to strengthen its Canadian footprint, supplying reliable transit solutions.
Today, NFI supports growing North American cities solutions through its mobility solution ecosystem, which includes buses and coaches; infrastructure ; parts and service; technology; workforce development and training; and vehicle financing. NFI also operates the Vehicle Innovation Center (VIC), the first innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 540 interactive events, welcoming nearly 11,600 industry professionals for EV and infrastructure training.
About NFI
Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.
With over 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer ® (heavy-duty transit buses), MCI ® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), ARBOC ® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (referring to propulsion systems that do not utilize internal combustion engines, such as trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com , www.newflyer.com , www.mcicoach.com , nfi.parts , www.alexander-dennis.com , arbocsv.com , and carfaircomposites.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. It also offers infrastructure development through NFI Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission. Further information is available at www.newflyer.com .
Forward-Looking Statement
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI 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; production may be delayed or production rates may be decreased as a result of ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedarplus.ca .
Due to the potential impact of these factors, NFI 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:
Melissa Schnee
P: 385.910.6861
Melissa_Schnee@newflyer.com
For investor inquiries, please contact:
Stephen King
P: 204.792.1300
Stephen.King@nfigroup.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/93a4ac36-6bed-4dcc-b02d-38d7bfa19a8c
