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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  NFI Group Inc    NFI   CA62910L1022

NFI GROUP INC

(NFI)
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NFI : New Flyer Infrastructure Solutions™ completes New York's first interoperable, on-route charger solution for transit buses

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04/15/2019 | 05:58pm EDT

ST. CLOUD, MN, April 15, 2019 /CNW/ - (TSX: NFI) New Flyer of America Inc. ("New Flyer"), a subsidiary of NFI Group Inc. ("NFI"), the largest bus manufacturer in North America, today announced that New Flyer Infrastructure Solutions™ has successfully deployed two rapid, on-route chargers along New York City Transit Authority's ("NYCT") M42 route. This marks completion of the first on-route charging solution in the United States that uses a globally recognized system to allow vehicle and charging equipment interoperability to common interfaces.

New Flyer of America Inc. (CNW Group/New Flyer of America Inc.)

The chargers are operated by the Metropolitan Transportation Authority ("MTA"), acting through NYCT as a part of an electric bus test and evaluation program. The program, officially launched in January 2018, continues to evaluate electric buses as a zero-emission solution for America's largest public transit system.

New Flyer Infrastructure Solutions™ led project management, having engaged Black & Veatch (a leader in engineering and construction for complex fleet charging networks) to assist with engineering, permitting, and construction for the on-route charger equipment from Siemens.

New Flyer has actively participated and supported the North American adoption of global charging standards for electric buses and coaches, for both on-route and depot charging options. The Siemens on-route chargers installed as part of the system are interoperable, and follow OppCharge interfaces and the forthcoming Society of Automotive Engineers (SAE) J3105 charging standard, allowing heavy-duty electric vehicles ("EVs") of all types and models, including buses from other manufacturers that support and design to OppCharge standards, to utilize common on-route chargers.

Infrastructure Solutions is also currently overseeing and supporting similar on-route OppCharge charging deployments in Portland, OR, Minneapolis MN, and Vancouver, BC.

"Charging is a critical component of successful implementation of zero-emission public transportation programs. New Flyer Infrastructure Solutions is proving to be an invaluable resource to provide the complex technical expertise necessary to coordinate successful projects for cities like New York," said Chris Stoddart, President, New Flyer.

New Flyer has over 50 years of experience in manufacturing zero-emission buses, starting with trolley-electric, followed by all battery-electric and fuel cell-electric. In 2018, New Flyer became the first bus manufacturer in the world to sign on to the Shared Mobility Principles for Livable Cities, joined CharIN to support industry charging standards for all electric vehicles, became the first licensee outside the Volvo Group to join OppCharge in North America, signed CALSTART'sGlobal Commercial Drive to Zero to support fast-tracking adoption of clean trucks and buses, and also signed the Transportation Electrification Accord focused on driving an equitable and prosperous future for electrified transportation.

NFI is the only provider of full suite bus solutions in North America, offering transit, motor coach, and low-floor cutaway buses.

For more information and to contact New Flyer Infrastructure Solutions™, visit www.newflyer.com/infrastructuresolutions. For more information on the Vehicle Innovation Center, visit www.newflyer.com/vic.

About NFI

With over 6,300 team members, operating from 31 facilities across Canada and the United States, NFI is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts™ (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell) on proven bus platforms. It also supports infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe and reliable charging and mobility solutions. In total, NFI supports over 74,000 buses and coaches currently in service across North America. For the fiscal year ended December 30, 2018, NFI posted revenues of US $2.5 billion. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.

About New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE™ brands. It also offers infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.newflyer.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the NFI Group 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 those 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, NFI Group 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.

SOURCE New Flyer of America Inc.

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2019 3 079 M
EBIT 2019 267 M
Net income 2019 150 M
Debt 2019 1 088 M
Yield 2019 4,61%
P/E ratio 2019 11,2x
P/E ratio 2020 9,35x
EV / Sales2019 0,90x
EV / Sales2020 0,77x
Capitalization 1 688 M
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Paul Soubry President, CEO & Non-Independent Director
Brian Vincent Tobin Chairman
Glenn Asham Chief Financial Officer & Treasurer
Chris Stoddart Senior VP-Engineering & Customer Services
Vincent James Sardo Independent Director
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