In the news release, Community Transit expands BRT service with 26 buses from New Flyer, issued 25-Sep-2018 by New Flyer of America Inc. over Cision, we are advised by the company that the quantity and type of buses were incorrect as originally issued inadvertently. Additional revisions have also been made throughout the release. The complete, corrected release follows:
Community Transit revitalizes and expands fleet with 44 buses from New Flyer
ST. CLOUD, MN, Sept. 25, 2018 /CNW/ - (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 in North America, today announced that Community Transit in Everett, Washington has exercised options for 26 heavy-duty, sixty-foot Xcelsior® clean-diesel transit buses (or 52 equivalent units or "EUs"). This order is in addition to options exercised by Community Transit in June 2017 for 18 heavy-duty, sixty-foot Xcelsior® clean-diesel transit buses (36 EUs) that are currently being delivered, for a total of 44 buses (88 EUs).
The 26 articulated buses, engineered for high capacity transit, will replace older articulated buses that have reached service lifespan, and are a part of a $20 million investment in asset management and vehicle replacement. The 18 articulated buses are part of a $12 million investment to expand bus rapid transit ("BRT") and increase service in 2019.
"New Flyer is proud to support Community Transit as it pursues revitalized and expanded mobility in the community of Snohomish County, Washington," said Wayne Joseph, President, New Flyer of America. "We are committed to supporting fleet advancement, and hihg-capacity BRT transit as a key element of multimodal transit, that will help reduce congestion and augment public transit success in growing urban areas."
Community Transit serves the public transit authority of Snohomish County, Washington (a Seattle metropolitan area) and delivers over 10 million passenger trips per year. New Flyer has delivered nearly 300 buses to Community Transit since 1992.
The NFI Group has over 88 years of experience manufacturing buses. It 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.
With nearly 6,000 team members, operating from 31 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.
SOURCE New Flyer of America Inc.
For further information: For media inquiries, please contact: Lindy Norris, P: 204.792.8424, [email protected]; For investor inquiries, please contact: Stephen King, P: 204.224.6382, [email protected]