WMATA upgrades fleet with up to 694 new buses from New Flyer

ST. CLOUD, MN, July 4, 2018 /CNW/ - (TSX: NFI) New Flyer of America Inc. ("New Flyer"), the U.S. subsidiary of NFI Group Inc. ("NFI Group"), the largest transit bus and motor coach manufacturer and parts distributor in North America, today announced that New Flyer will deliver up to 694 heavy-duty Xcelsior^® transit buses (or 788 equivalent units) to the Washington Metropolitan Area Transit Authority ("WMATA") as part of a five-year contract award.

The contract will be comprised of forty-foot compressed natural gas ("CNG"), forty-foot clean diesel, sixty-foot CNG, and sixty-foot diesel heavy-duty transit buses to support WMATA's goal of reducing greenhouse-gas emissions, and further deliver on high-capacity WMATA routes, with the sixty-foot buses offering 115-passenger capacity. Funding was supported by Federal Transit Administration ("FTA") grants.

"New Flyer is proud to support WMATA in its pursuit of reducing emissions and delivering efficient public transit solutions on high-capacity bus routes," said Wayne Joseph, President, New Flyer of America. "We are honored to further build our 15-year relationship with integrated, sustainable transportation to move Washingtonians across the nation's growing Capitol and in partnership with a leading agency in public transportation."

WMATA's Metrobus, the sixth busiest bus agency in America, provides more than 100 million trips per year in the District of Columbia, Maryland, and Virginia. Since 2001, New Flyer has delivered nearly 1,400 buses to WMATA, with propulsions including electric hybrid, zero-emission battery-electric, and low-emission CNG.

In 2018, New Flyer committed to leading collaboration, cooperation, and the technological advancement of Smart Mobility in North America. It also became the first bus manufacturer in the world to sign onto the Shared Mobility Principles for Livable Cities, which supports collaboration in developing multimodal, integrated cities through technology-driven innovation. For information on Shared Mobility Principles, visit www.sharedmobilityprinciples.org.

The NFI Group has over 50 years of experience in manufacturing zero-emission buses (ZEBs), and has the most electric buses on the road in America.

About NFI Group

With nearly 6,000 team members, operating from 32 facilities across Canada and the United States, NFI Group Inc. is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under several 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 Group's 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).  For the fiscal year ended December 31, 2017, NFI Group posted revenues of U.S. $2.4 billion.

NFI Group Inc. 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. New Flyer actively supports over 44,000 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 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 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 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 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.