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New Flyer Industries gets contract to build 74 buses

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Winnipeg’s New Flyer Industries Inc. has scored an order to build 74 buses for New York transit authorities assigned to it from the shuttered Orion bus company, a division of Daimler Buses North America.

The contract with the New York City Transit Authority (NYTA) and the MTA Bus Company is to build 74 heavy-duty 40-foot compressed natural gas (CNG) buses. The contract includes an additional 30 option buses that will not be ordered at this time.

Daimler decided to close its North American bus manufacturing operation in April this year. New Flyer has had a long relationship with the New York transit authorities and is in the midst of production on a contract with NYCT for 385 buses.

Production will commence in August 2012 and all are expected to be delivered to NYCT by the end of the year.

This assigned contact was part of the group of orders for 483 new buses (613 equivalent units or "EUs") and options for 40 buses (60 EUs) that New Flyer disclosed earlier this month.

Asked if New Flyer might be able to access other orders Orion had left on its books, New Flyer CEO, Paul Soubry said, "We’re not sure at this point. New York was their highest priority and we’re thrilled New Flyer could respond so quickly."

New Flyer shares are up nine cents to $7.68 in afternoon trading.

The shares are up close to 20 per cent since the beginning of July.

 

History

Updated on Thursday, July 26, 2012 at 2:04 PM CDT: adds photo caption

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