Management & Operations

Neoplan restructures, reduces debt

Posted on September 9, 2003

Neoplan USA Corp. successfully completed a financial restructuring that will significantly strengthen its strategy of innovation and growth. Neoplan's secured lenders, owners and surety bond providers agreed to this restructuring due to their strong belief in the company, its new management team and its strategy. In executing the plan, Neoplan reduced the company's senior secured debt by 75%; closed a new revolving credit facility; received additional collateral support relating to surety bond requirements from a majority shareholder; secured adequate surety bonding capacity to implement the company's production plan; and received agreement from its vendors to defer repayment of their claims. Currently, Neoplan is delivering to Boston the industry's first low-floor articulated buses powered by CNG engines. In addition, Neoplan will soon start production of an articulated bus for New Jersey, with the industry's first radiator-over-engine design in an articulated bus.

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

More News

HART leasing Teslas to expand rideshare program

The HART HyperLINK program partners with Transdev to provide direct connections from door to bus stop through an on-demand ride-hailing service similar to Uber,

WTC Oculus safety improvements possible following death of woman

Jenny Santos plunged from the C1 level escalator early Saturday morning as she was grabbing her twin sister's hat. She was brought to Bellevue Hospital and pronounced dead.

New mobility website to track Washington, D.C. traffic congestion

The dynamic web tool shows the District’s state of mobility for surface transportation modes and outlines DDOT’s recommendations for managing and operating built infrastructure to meet growing demand.

McDonald Transit/RATP Dev to operate Fla. transit service

Will provide management of the operations and vehicle maintenance for Lake County’s LakeXpress, fixed-route service and the paratransit service, Lake County Connection.

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