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The completion of the transaction is subject to customary closing conditions including U.S. anti-trust and Canadian Competition Act approvals. Management currently expects the Transaction to close by the end of 2015.
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The firm portion of the contract for 325 buses is valued at approximately $223 million with the options for 400 more valued at approximately $254 million.
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President/CEO Paul Soubry discusses revamping NABI’s Anniston, Ala. plant, the company’s focus on using multiple propulsion systems and the future of green technologies, including hydrogen fuel cells.
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With successful completion of the Altoona Test, New Flyer can provide operators with objective data indicating the XE40 battery-electric bus is built to rely on, day in and day out.
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He joined New Flyer in 2008 in the role of executive VP, operations, and has played an instrumental role in the company’s success through his leadership of operational excellence initiatives, focus on product quality, and dedication to customer and employee satisfaction.
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Over the next four to six months, Metro will take delivery of three 40-foot prototype heavy-duty battery-electric buses with fast-charging batteries, manufactured with a composite body by Proterra.
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The purpose of the program is to encourage demonstration of advanced technologies and help develop commercial vehicles that reduce greenhouse gas emissions, displace petroleum fuel demand, stimulate economic development and enhance market acceptance that will lead to commercial production.
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The agency has a growing fleet of environmentally friendly New Flyer CNG buses and with these awards will increase their active New Flyer fleet to 556 vehicles.
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The university, which recently hosted a New Flyer electric bus, could purchase 16 electric buses and retire most of its pre-2007 buses if the U.S. Department of Transportation approves an $11.5 million grant.
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Joe Lunny brings more than 25 years of bus sales and management experience, most of that time serving the transit bus industry along the East Coast. Prior to joining ABC, he served as southeast regional sales manager at New Flyer Industries.
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