(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc.
(“NFI” or the “Company”), a leading independent bus and coach
manufacturer and a leader in electric mass mobility solutions,
subsidiary Alexander Dennis Limited (“Alexander Dennis”) today
announced receipt of an order for an additional 50 zero-emission
double-deck buses from Transport for Greater Manchester, doubling
the total on order for the franchised Bee Network bus system to
100.
These additional 50 British-built electric buses
will enter service in parts of Bury, Rochdale and Oldham when the
second tranche of franchising launches there in April 2024,
delivering a cleaner, more environmentally friendly bus fleet for
another part of Greater Manchester. The buses will be funded from
the government’s City Region Sustainable Transport Settlement.
The new buses, which are a new order adding to
NFI’s backlog, follow an initial procurement of 50 buses for the
first tranche of Bee Network services in Wigan and Bolton from
September 2023, for which Go North West and Diamond has been
confirmed as the appointed operator.
“This repeat order from Transport for Greater
Manchester is a great recognition of the value added by our
zero-emission buses, which will be built in the North of England at
our factory in Scarborough and supported locally from our AD24
aftermarket hub in Skelmersdale,” said Paul Davies, President &
Managing Director, Alexander Dennis. “With a total of 100 electric
buses now on order from Alexander Dennis for the Bee Network, we
are looking forward to helping to transform the public transport
experience in the region.”
“There is strong momentum towards the delivery
of the Bee Network – an integrated London-style transport system –
and bus franchising alongside our Metrolink trams means we have a
solid foundation to build from,” said Vernon Everitt, Transport
Commissioner for Greater Manchester. “High demand for safe,
reliable and affordable public transport in the region will only
increase as we progressively join up our fares, ticketing and
information systems to make using public transport easier and more
accessible for everyone.
“We are also developing major schemes at pace,
with more than £100m worth of projects currently being progressed,
including dozens of new electric buses, plans for new quality bus
routes and various projects that will significantly improve the
travelling experience for passengers.”
NFI is a leader in low- and zero-emission
mobility, with vehicles operating in 13 countries, moving millions
of people every day. NFI offers the widest range of vehicles
including clean diesel, compressed natural gas, diesel electric
hybrids, and zero-emission battery- and fuel cell-electric buses
and coaches.
High resolution images are available for
download from the Alexander Dennis website at
alexander-dennis.com/media/news.
About NFI
Leveraging 450 years of combined experience, NFI
is leading the electrification of mass mobility around the world.
With zero-emission buses and coaches, infrastructure, and
technology, NFI meets today’s urban demands for scalable smart
mobility solutions. Together, NFI is enabling more livable cities
through connected, clean, and sustainable transportation.
With 7,500 team members in nine countries, NFI
is a leading global bus manufacturer of mass mobility solutions
under the brands New Flyer® (heavy-duty transit buses), MCI® (motor
coaches), Alexander Dennis Limited (single and double-deck buses),
Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty
buses), and NFI Parts™. NFI currently offers the widest range of
sustainable drive systems available, including zero-emission
electric (trolley, battery, and fuel cell), natural gas, electric
hybrid, and clean diesel. In total, NFI supports its installed base
of over 105,000 buses and coaches around the world. NFI’s common
shares trade on the Toronto Stock Exchange (“TSX”) under the symbol
NFI and its convertible unsecured debentures trade on the TSX under
the symbol NFI.DB. News and information is available at
www.nfigroup.com, www.newflyer.com, www.mcicoach.com,
www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and
www.carfaircomposites.com.
About Alexander Dennis
Alexander Dennis Limited (“Alexander Dennis”) is
a global leader in the design and manufacture of double deck buses
and is also the UK’s largest bus and coach manufacturer. Alexander
Dennis offers single and double deck vehicles under the brands of
Alexander Dennis and Plaxton, and has over 31,000 vehicles in
service in the UK, Europe, Hong Kong, Singapore, New Zealand,
Mexico, Canada, and the United States. Further information is
available at www.alexander-dennis.com.
Forward-Looking Statement
This press release may contain forward-looking
statements relating to expected future events and financial and
operating results of Alexander Dennis and NFI Group Inc. that
involve risks and uncertainties. Although the forward-looking
statements contained in this press release are based upon what
management believes to be reasonable assumptions, investors cannot
be assured that actual results will be consistent with these
forward-looking statements, and the differences may be material.
Actual results may differ materially from management expectations
as projected in such forward-looking statements for a variety of
reasons, including market and general economic conditions and
economic conditions of and funding availability for customers to
purchase buses and to purchase parts or services; customers may not
exercise options to purchase additional buses; the ability of
customers to suspend or terminate contracts for convenience;
production may be delayed or production rates may be decreased as a
result of the pandemic or ongoing and future supply chain
disruptions and shortages of parts and components, shipping and
freight delays, and disruption to labor supply; and the other risks
and uncertainties discussed in the materials filed with the
Canadian securities regulatory authorities and available on SEDAR
at www.sedar.com.
Due to the potential impact of these factors,
the NFI Group Inc. disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, unless required by
applicable law.
For media inquiries, please contact:Debbie
McCreath, +44 1324 574479
Stefan Baguette, +44 1324
678047press@alexander-dennis.com
For inquiries, please contact:Stephen KingP:
204.224.6382Stephen.King@nfigroup.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/feab6a91-dc8c-44d7-9ea9-1274dbc0c605
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