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The acquisition represents a continuation of NFI Group’s growth and diversification strategy and was not subject to any pre-closing regulatory or antitrust requirements. NFI Group is using available cash and its existing credit facilities to finance the transaction.
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The new 2017 XN60 low-floor buses manufactured by New Flyer, allow MTS to increase its capacity to transport riders along popular routes in the South Bay.
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The purchase, which executes on planned fleet expansion and replacement initiatives, was supported by a combination of state and federal funding.
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The new order, which adds a total of 11 equivalent units to New Flyer’s backlog, supports METRO’s aged fleet replacement with diesel buses, as well as planned fleet expansion with CNG buses to support the growing Portland community.
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The expansive show floor, which featured more than 800 exhibitors, featured a bevy of product debuts and gave attendees a view of transit’s future.
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The new order, which adds a total of 24 equivalent units to New Flyer’s backlog, supports aged fleet replacement and the GET bus focus on environmental sustainability.
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Once the pilot project is complete, the agency will prepare a report discussing the findings and recommending next steps.
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The order, which was supported with federal, state, and local funding, is part a fleet revitalization effort initiated by SEAT in 2017.
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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.
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The Shepherdsville, Ky. facility will fabricate parts for the manufacture of New Flyer transit buses, MCI motorcoaches, and spare parts for NFI Parts.
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