New Flyer: Difference between revisions

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(Created page with "{{Organization |logo=NewFlyer600.jpg |sector=Transportation |industry=Transportation |type=Public Company |foundation=2930 |founder=John Coval |location_city=Winnipeg Manitoba...")
 
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The company converted to a corporate structure from a trust-like structure in October 2011.
The company converted to a corporate structure from a trust-like structure in October 2011.


Brazilian bus manufacturer [[Marcopolo S.A.]] acquired a 19.99% stake of New Flyer on January 23, 2013, for $116 million, the maximum it could acquire without offering to buy out other shareholders.<ref>{{Cite web |last=The Canadian Press |author-link=The Canadian Press |date=January 23, 2013 |title=Brazilian bus maker loads up stake in New Flyer Industries |url=https://www.theglobeandmail.com/globe-investor/brazilian-bus-maker-loads-up-stake-in-new-flyer-industries/article7716338/ |access-date=2017-07-13 |newspaper=[[The Globe and Mail]]}}</ref> Marcopolo would later reduce it's stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder.<ref>{{Cite web |last=Markets |first=CIBC World |date=2016-09-22 |title=Marcopolo Sells a Portion of Its Shares of New Flyer and Confirms Ongoing Commercial Cooperation Initiatives |url=http://www.globenewswire.com/news-release/2016/09/22/1285657/0/en/Marcopolo-Sells-a-Portion-of-Its-Shares-of-New-Flyer-and-Confirms-Ongoing-Commercial-Cooperation-Initiatives.html |access-date=2020-01-28 |website=GlobeNewswire News Room}}</ref>  
Brazilian bus manufacturer [[Marcopolo S.A.]] acquired a 19.99% stake of New Flyer on January 23, 2013, for $116 million, the maximum it could acquire without offering to buy out other shareholders.<ref>{{Cite web |last=The Canadian Press |author-link=The Canadian Press |date=January 23, 2013 |title=Brazilian bus maker loads up stake in New Flyer Industries |url=https://www.theglobeandmail.com/globe-investor/brazilian-bus-maker-loads-up-stake-in-new-flyer-industries/article7716338/ |access-date=2017-07-13 |newspaper=[[The Globe and Mail]]}}</ref> Marcopolo would later reduce it's stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder.<ref>{{Cite web |last=Markets |first=CIBC World |date=2016-09-22 |title=Marcopolo Sells a Portion of Its Shares of New Flyer and Confirms Ongoing Commercial Cooperation Initiatives |url=http://www.globenewswire.com/news-release/2016/09/22/1285657/0/en/Marcopolo-Sells-a-Portion-of-Its-Shares-of-New-Flyer-and-Confirms-Ongoing-Commercial-Cooperation-Initiatives.html |access-date=2020-01-28 |website=GlobeNewswire News Room}}</ref>
 
===Mergers and acquisitions===
Since 2013, the NFI Group has completed several [[mergers and acquisitions]] that have expanded the company beyond its original focus on heavy-duty transit buses for the North American market and into on several other bus types and markets.
 
As competing manufacturer [[Daimler AG|Daimler]] exited the North American market in 2013, New Flyer purchased the aftermarket parts business for its [[Orion International|Orion]] brand of heavy-duty transit buses for {{US$|29 million}}.<ref>{{Cite web |date=2013-03-01 |title=New Flyer buys Orion parts business of Daimler Bus |url=https://www.theglobeandmail.com/globe-investor/new-flyer-buys-orion-parts-business-of-daimler-bus/article9208736/ |access-date=2013-04-22 |newspaper=The Globe and Mail}}</ref>  Under the agreement, New Flyer acquired the Orion parts inventory, the company's accounts, license to use proprietary part designs and agreed to provide parts for customer warranty support.<ref>{{Cite web |date=1 March 2013 |title=New Flyer buys the Orion aftermarket parts business of Daimler Bus for US$29M |url=https://globalnews.ca/news/401053/new-flyer-buys-the-orion-aftermarket-parts-business-of-daimler-bus-for-us29m/ |access-date=17 December 2020 |website=Global News}}</ref>
 
On June 21, 2013, New Flyer agreed to acquire competing heavy-duty transit bus manufacturer, [[North American Bus Industries]] (NABI) for {{US$|80 million}}.<ref>{{Cite press release |title=New Flyer confirms the successful closing of North American Bus Industries, Inc. acquisition and related financial transactions |date=June 21, 2013 |publisher=New Flyer Industries |url=http://www.nabusind.com/news/New_Flyer_Aquires_NABI_Closing_Press_Release.pdf |access-date=2017-07-13 |archive-url=https://web.archive.org/web/20140124031036/http://www.nabusind.com/news/New_Flyer_Aquires_NABI_Closing_Press_Release.pdf |archive-date=January 24, 2014}}</ref><ref>{{Cite web |title=Archived copy |url=http://www.newflyer.com/index/news-app/story.145 |url-status=dead |archive-url=https://web.archive.org/web/20130626063757/http://www.newflyer.com/index/news-app/story.145 |archive-date=2013-06-26 |access-date=2013-06-30}}</ref> Upon completion of NABI's outstanding orders, New Flyer converted the former NABI factory in Anniston, AL into a fourth facility to produce the Xcelsior heavy-duty transit bus.<ref>{{Cite web |last=Konrad |first=Tom |date=24 June 2013 |title=New Flyer Nabs NABI: Transit Bus Leader Advances |url=https://www.forbes.com/sites/tomkonrad/2013/06/24/new-flyer-nabs-nabi-transit-bus-leader-advances/?sh=5102751e5af6 |access-date=17 December 2020 |website=Forbes}}</ref>
 
On November 10, 2015, New Flyer agreed to acquire motorcoach manufacturer [[Motor Coach Industries]] from KPS Capital Partners for {{US$|459 million}},<ref>{{Cite web |date=November 10, 2015 |title=New Flyer buys Motor Coach Industries for $604M Cdn |url=http://www.cbc.ca/news/canada/manitoba/new-flyer-buys-motor-coach-1.3312102 |access-date=2017-07-13 |publisher=[[CBC News]]}}</ref> with the deal closing on December 18, 2015.<ref>{{Cite web |date=January 14, 2016 |title=New Flyer Industries Investor Presentation |url=https://www.newflyer.com/js/pdfjs/web/viewer.html?file=../../../images/downloads/investor-relations/events-presentations/2016/presentations/011416-NF-investor-presentation.pdf |access-date=August 8, 2017 |website=www.newflyer.com}}{{dead link|date=January 2018|bot=medic}}{{cbignore|bot=medic}}</ref><ref>{{Cite web |date=10 November 2015 |title=KPS Capital Partners to Sell Motor Coach Industries for $480 Million |url=https://www.paulweiss.com/practices/transactional/private-equity/news/kps-capital-partners-to-sell-motor-coach-industries-for-480-million?id=21149 |access-date=16 November 2020 |website=Paul Weiss}}</ref>
 
On December 1, 2017, New Flyer acquired [[Middlebury, Indiana]] based small cutaway and medium duty bus manufacturer [[ARBOC Specialty Vehicles]] for US$95 million.<ref>{{Cite web |date=December 1, 2017 |title=New Flyer acquires ARBOC Specialty Vehicles |url=https://www.newflyer.com/2017/12/new-flyer-acquires-arboc-specialty-vehicles/ |access-date=2018-06-03 |publisher=New Flyer Industries}}</ref>
 
On May 28, 2019, New Flyer purchased British bus and coach manufacturer [[Alexander Dennis]], including their subsidiary [[Plaxton]], for {{GBPConvert|320000000}}.

Revision as of 02:18, February 22, 2022


New Flyer
NewFlyer600.jpg
NIST Sector Transportation
GICS Industrial Transportation
Smart Tag(s)
Business type "Public Company" is not in the list (Sole proprietorship, Partnership, Nonprofit, Other, Federal Government, State Government, Local Government, Public, Employee Owned, Private, ...) of allowed values for the "Has biztype" property.
Year Founded 2930
Founder(s) John Coval
City, State Winnipeg Manitoba
Country Canada
Region Served Worldwide
Executives Paul Soubry
Revenue
Number of employees 8000
Sponsorship Level Of Interest
Members


NFI Group, is a Canadian multinational bus manufacturer, based in Winnipeg, Manitoba. The company employs 8,000 people across 50 facilities in nine countries. NFI Group owns Alexander Dennis, ARBOC Specialty Vehicles, Motor Coach Industries, New Flyer, Plaxton, NFI Parts, and Carfair Composites. The company is listed on the Toronto Stock Exchange under the symbol NFI, and is a constituent of the S&P/TSX Composite Index.


link=Media:'"`UNIQ-NOPARSEhttps://opencommons.org/images/8/8b/NFIBusRIPTA.pdf Rhode Island's RIPTA orders NFI Electric Buses
New Flyer of America Inc. (“New Flyer”) has received a new contract from the Rhode Island Public Transit Authority (“RIPTA”) for 14 battery-electric, zero-emission Xcelsior CHARGE™ forty-foot heavy-duty transit buses. The order includes five ABB 50kWh depot chargers from NFI Infrastructure Solutions™ to support battery-electric bus deployment in the Rhode Island region.

Details

History

NFI Group was created on June 16, 2005 as the holding company of New Flyer Industries so it could be publicly traded on the Toronto Stock Exchange.[1]

In October 2008, NFI Group. was named one of Canada's Top 100 Employers, which was announced in The Globe and Mail newspaper, and the company was featured in Maclean's newsmagazine. Later that month, New Flyer was also named one of Manitoba's Top Employers, which was announced by the Winnipeg Free Press newspaper.[2]

The company converted to a corporate structure from a trust-like structure in October 2011.

Brazilian bus manufacturer Marcopolo S.A. acquired a 19.99% stake of New Flyer on January 23, 2013, for $116 million, the maximum it could acquire without offering to buy out other shareholders.[3] Marcopolo would later reduce it's stake in the company to 10.8% on September 22, 2016, although it remains the largest individual shareholder.[4]

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