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New Flyer Industries Inc (2)
Symbol NFI
Shares Issued 62,929,550
Close 2017-11-20 C$ 49.10
Market Cap C$ 3,089,840,905
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New Flyer has 106-Xcelsior-bus order from TransLink

2017-11-20 17:55 ET - News Release

Mr. Paul Smith reports

BC'S TRANSLINK PLACES FIRM ORDER FOR AN ADDITIONAL 106 BUSES WITH NEW FLYER

The South Coast British Columbia Transportation Authority (TransLink) has awarded New Flyer Industries Canada ULC, the Canadian subsidiary of New Flyer Industries Inc., with a contract for 106 Xcelsior compressed natural gas (CNG) 40-foot, heavy-duty transit buses.

The order was supported by the Federal Gas Tax Fund, through which the government of Canada provides funding for municipal infrastructure, including public transit. The funds are administered in B.C. by the Union of British Columbia Municipalities.

The CNG buses will be equipped with 2018 Cummins L9N engines, which provide a significantly reduced carbon footprint (1) supporting TransLink's planned fleet rejuvenation initiative and vision for increasingly sustainable transit. In October, 2017, the metro Vancouver transit system was named the third most sustainable transit system in North America by the Arcadis Sustainable Cities Mobility Index, and in the same month, the City of Vancouver committed to purchasing only zero-emission buses by 2025 with a goal to achieve zero-emission status by 2030.

"We are proud to build on our long-standing relationship with TransLink as it evolves to a desired state of low- and no-emission public transportation," said Paul Smith, New Flyer's executive vice-president of sales and marketing. "With a focus on sustainable transit, New Flyer will continue to evolve alongside leaders like TransLink, building reliable and innovative technology to support healthy communities, to preserve the environment and to foster smart, connected cities."

TransLink delivers public transportation services through Coast Mountain Bus Company, B.C. Rapid Transit Company Ltd. (SkyTrain) and West Coast Express Ltd., across a 1,800-square-kilometre area in the metro Vancouver region. On an average weekday, there are approximately 1.3 million boardings on the TransLink system.

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. The NFI group has over 50 years of experience in manufacturing zero-emission buses (ZEBs).

About New Flyer Industries Inc.

NFI Group is the largest transit bus and motorcoach manufacturer and parts distributor in North America, with 31 fabrication, manufacturing, distribution and service centres across Canada and the United States, employing over 5,800 team members.

It is North America's heavy-duty transit bus leader and offers the largest transit bus product line under the brand Xcelsior, incorporating the broadest range of drive systems available, including: clean diesel, natural gas, diesel electric hybrid, trolley electric and battery electric. NFI Group actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI and Orion) currently in service, of which 6,400 are powered by electric and battery propulsion.

NFI Group is also North America's motorcoach market leader offering the Motor Coach Industries Inc. (MCI) J-Series, the industry's best-selling intercity coach for 11 consecutive years, and the MCI D-Series, the industry's best-selling motorcoach line in North American history.

(1) Nitrogen oxide emission reduction from 0.2 to 0.02 gram per brake horsepower hour.

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