NFI Subsidiary MCI Awarded Major Five-Year Contract from Metrolinx
NFI Group's subsidiary Motor Coach Industries (MCI) has secured a significant contract from Metrolinx, an Ontario government agency responsible for transportation in the Greater Toronto and Hamilton Area. The contract includes a firm order for 80 45-foot D45 CRT diesel commuter coaches with additional options, which have been added to NFI's fourth quarter 2024 backlog.
The agreement features a milestone billing payment structure to support working capital investments. Metrolinx, which operates GO Transit, UP Express, and the PRESTO payment network, will use these coaches to maintain their operational requirements. Multiple NFI subsidiaries currently serve Metrolinx's fleet, including Alexander Dennis double-deck buses, MCI motorcoaches, and vehicle support from NFI Parts.
La controllata di NFI Group, Motor Coach Industries (MCI), ha ottenuto un contratto significativo da Metrolinx, un'agenzia del governo dell'Ontario responsabile dei trasporti nell'area metropolitana di Toronto e Hamilton. Il contratto include un ordine fermo per 80 autobus pendolari diesel D45 CRT di 45 piedi con ulteriori opzioni, che sono state aggiunte al backlog di NFI per il quarto trimestre del 2024.
L'accordo presenta una struttura di pagamento a milestone per supportare gli investimenti nel capitale circolante. Metrolinx, che gestisce GO Transit, UP Express e la rete di pagamento PRESTO, utilizzerà questi autobus per soddisfare le proprie esigenze operative. Diversi sussidiari di NFI servono attualmente la flotta di Metrolinx, tra cui i pullman a due piani Alexander Dennis, i motorcoach MCI e il supporto dei veicoli da NFI Parts.
La subsidiaria de NFI Group, Motor Coach Industries (MCI), ha asegurado un contrato significativo con Metrolinx, una agencia del gobierno de Ontario responsable del transporte en el área metropolitana de Toronto y Hamilton. El contrato incluye un pedido firme de 80 autocares diésel D45 CRT de 45 pies con opciones adicionales, que se han añadido a la cartera de NFI para el cuarto trimestre de 2024.
El acuerdo presenta una estructura de pagos por hitos para apoyar las inversiones en capital de trabajo. Metrolinx, que opera GO Transit, UP Express y la red de pagos PRESTO, utilizará estos autocares para mantener sus requisitos operativos. Varias subsidiarias de NFI atienden actualmente la flota de Metrolinx, incluidos los autobuses de dos pisos de Alexander Dennis, los autocares de MCI y el soporte de vehículos de NFI Parts.
NFI 그룹의 자회사인 Motor Coach Industries (MCI)가 온타리오 주 정부의 대중교통 기관인 Metrolinx로부터 중요한 계약을 체결했습니다. 이 계약에는 추가 옵션이 포함된 80대의 45피트 D45 CRT 디젤 통근 버스에 대한 확정 주문이 포함되어 있으며, 이는 NFI의 2024년 4분기 백로그에 추가되었습니다.
계약은 운영 자본 투자를 지원하기 위한 이정표 청구 결제 구조를 특징으로 합니다. GO Transit, UP Express 및 PRESTO 결제 네트워크를 운영하는 Metrolinx는 이러한 버스를 사용하여 운영 요구 사항을 유지할 것입니다. 현재 여러 NFI 자회사가 Alexander Dennis의 이층 버스, MCI의 모터코치 및 NFI Parts의 차량 지원을 포함하여 Metrolinx의 차량을 지원하고 있습니다.
La filiale de NFI Group, Motor Coach Industries (MCI), a obtenu un contrat significatif avec Metrolinx, une agence gouvernementale de l'Ontario responsable du transport dans la région du Grand Toronto et de Hamilton. Le contrat comprend une commande ferme de 80 autocars diesel D45 CRT de 45 pieds avec des options supplémentaires, qui ont été ajoutées au carnet de commandes de NFI pour le quatrième trimestre de 2024.
L'accord prévoit une structure de paiement par étapes pour soutenir les investissements en fonds de roulement. Metrolinx, qui opère GO Transit, UP Express et le réseau de paiement PRESTO, utilisera ces autocars pour répondre à ses besoins opérationnels. Plusieurs filiales de NFI desservent actuellement la flotte de Metrolinx, y compris les bus à deux étages Alexander Dennis, les autocars MCI et le support des véhicules de NFI Parts.
Die Tochtergesellschaft von NFI Group, Motor Coach Industries (MCI), hat einen bedeutenden Vertrag mit Metrolinx abgeschlossen, einer Regierungsbehörde von Ontario, die für den Verkehr im Großraum Toronto und Hamilton zuständig ist. Der Vertrag umfasst eine feste Bestellung von 80 Diesel-Kommunalbus D45 CRT mit 45 Fuß sowie zusätzliche Optionen, die dem Auftragsbestand von NFI für das vierte Quartal 2024 hinzugefügt wurden.
Die Vereinbarung umfasst eine Meilenstein-Zahlungsstruktur zur Unterstützung von Investitionen in das Betriebskapital. Metrolinx, das GO Transit, UP Express und das PRESTO-Zahlungsnetz betreibt, wird diese Busse nutzen, um ihre betrieblichen Anforderungen zu erfüllen. Mehrere Tochtergesellschaften von NFI bedienen derzeit die Flotte von Metrolinx, darunter die Doppeldeckerbusse von Alexander Dennis, die Motorcoaches von MCI und die Fahrzeugunterstützung von NFI Parts.
- Secured major contract for 80 diesel commuter coaches from Metrolinx
- Contract includes additional options beyond initial order
- Milestone billing structure provides working capital support
- Strengthens existing relationship with major transit authority
- None.
WINNIPEG, Manitoba, Jan. 21, 2025 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI) a leading independent bus and coach manufacturer and a leader in zero-emission electric mass mobility solutions, subsidiary Motor Coach Industries (MCI), today announced it has been awarded a significant contract from Metrolinx, an agency of the Ontario government with a mandate to improve the coordination and integration of all modes of transportation in the Greater Toronto and Hamilton Area. Metrolinx operates GO Transit and UP Express public transportation systems, and the PRESTO payment network, serving the Greater Toronto and Hamilton Area in Ontario. This new fleet of coaches will ensure Metrolinx can continue to meet operational needs.
The Metrolinx award includes an initial firm order for 80 45-foot D45 CRT diesel commuter coaches along with a number of options that were added to NFI’s fourth quarter 2024 backlog. The contract also includes milestone billing payment structure to support working capital investments.
“This exciting award by Metrolinx marks another milestone in our longstanding partnership,” said Chris Stoddart, President, North American Bus and Coach, NFI. “We are honored to be chosen to support Metrolinx in its mission to enhance regional transit. Multiple NFI subsidiaries are part of Metrolinx’s current fleet, including Alexander Dennis double-deck buses, MCI motorcoaches, and vehicle support from NFI Parts, our comprehensive aftermarket business.”
MCI’s new D Series coaches deliver unmatched safety, reliability, passenger comfort, and performance, and we are proud they will play a key role in improving mobility in the Greater Toronto and Hamilton Area.
NFI and MCI celebrate this achievement as a testament to their dedication to providing innovative transportation solutions that empower communities and deliver superior experiences for passengers and transit agencies alike.
Today, NFI supports growing North American cities with scalable, clean, and sustainable mobility solutions through its mobility solution ecosystem, which includes buses and coaches; infrastructure; parts and service; technology; workforce development and training; and vehicle financing. NFI also operates the Vehicle Innovation Center (VIC), the first and only innovation lab of its kind dedicated to advancing bus and coach technology and providing workforce development. Since opening in late 2017, the VIC has hosted over 470 interactive events, welcoming 10,600 industry professionals for EV and infrastructure training.
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 over 9,100 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), 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 100,000 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, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.
About MCI
MCI is North America’s public and private market motorcoach leader. Products include the luxury J Series (an industry best-seller for over a decade), the workhorse D Series, and the brand new zero-emission luxury and commuter coaches: the battery-electric J4500 CHARGE™, D45 CRT CHARGE™, and D45 CRT LE CHARGE™. MCI also provides maintenance, repair, 24-hour roadside assistance, parts, and technician training through the industry’s only Automotive Service Excellence (ASE) accredited and award-winning MCI Academy.
Forward-Looking Statement
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI 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 ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of 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.sedarplus.ca.
Due to the potential impact of these factors, NFI 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:
Melissa Schnee
P: 385.910.6861
Melissa_Schnee@newflyer.com
For investor inquiries, please contact:
Stephen King
P: 204.792.1300
Stephen.King@nfigroup.com
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/df7db141-abe5-4cdb-969e-7f55fb2e6cc8
FAQ
What is the size of Metrolinx's new order for NFYEF's MCI coaches?
How will the Metrolinx contract payment structure benefit NFYEF?
When will the Metrolinx order be added to NFYEF's backlog?
What types of NFI vehicles are currently in Metrolinx's fleet?
