Management & Operations

NABI Buys U.K.’s Optare Holdings Ltd.

Posted on January 22, 2000

In a role reversal between the two sides of the Atlantic, January, North American Bus Industries Inc. announced it acquired Optare Holdings Ltd., headquartered in Leeds, England. The total value of the acquisition is $35.2 million including assumed debt. Optare Holdings is the third largest city bus manufacturer in the United Kingdom. NABI said it will retain Optare’s current management. Peter Rona, founding chairman of NABI noted, “The transaction is based upon strong industrial and marketing synergies. Both companies have excellent products, innovative technologies and outstanding marketing expertise in their own traditional markets. I am convinced that adding Optare to NABI will create significant value for our shareholders.” Added Russell Richardson, managing director of Optare, “This relationship with NABI now provides us with fast-track access to new technologies and new markets.” Most notable among these is NABI’s designs and attendant worldwide licenses for the manufacturing technologies for its integral bus using a composite fiberglass-carbon body. NABI also has significant experience in producing low-emission, natural-gas powered buses. European operators are increasingly demanding such technologies as environmental pressures mount. The move also gives NABI an entry into the European market, something which it did not have even though it is owned by the First Hungary Fund and is listed on the Budapest Stock Exchange. Optare, on the other hand, has gained success with British fleet operators using its comprehensive line of integral body/chassis structured low-floor buses of its own design. A number of its models seem appropriate for the North American market; however, previously Optare had no viable means of accessing operators in this market, company officials said. Recently, Optare unveiled plans for a small, low-floor bus targeted at neighborhood, rural and specialty sectors. Scheduled for debut later this year, this vehicle will meet or exceed new standards outlined in the British Disability Discrimination Act. The DDA is expected to accelerate the purchase of new low-floor vehicles substantially in Britain over the next decade.

View comments or post a comment on this story. (0 Comments)

More News

Chicago RTA approves 5-year 'Invest in Transit' strategic plan

New regional plan sets a bold, yet practical, vision for “public transit as the core of the region’s robust transportation mobility network.”

TriMet Board names single finalist in GM search

Doug Kelsey joined the agency in 2015 and quickly improved the overall on-time performance of the transit system.

UTA's free-fare day adds 29K riders

The agency said the single-day ridership on FrontRunner commuter trains was up by 66% for a total of 30,016 boardings, while ridership on the TRAX light rail was up by 32%, for a total of 79,825 boardings.

Capital Metro selects new President/CEO

Randy Clarke has served as the VP, operations and member services, at the American Public Transportation Association since April 2016.

Berlin to offer sneakers with built-in transit pass

The sneakers will feature the unmistakable seat upholstery pattern featured on the city’s public transit fleet on the heel with the sneaker’s tongue featuring a fabric version of the annual BVG season ticket.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close