New Flyer Industries
TSX: NFI |
Grey Market: NFYEF
|Founded||1930(as Western Auto and Truck Body Works Ltd)|
|Headquarters||Winnipeg, Manitoba, Canada|
|Canada, United States, Latin America, Brazil, Thailand|
|Paul Soubry - CEO|
|Products||Heavy-duty transit buses|
|Subsidiaries||North American Bus Industries(NABI)|
Flyer was founded by John Coval in 1910 as the Western Auto and Truck Body Works Ltd. Reflecting an increased focus on bus manufacturing, it changed its name in 1928 to Western Flyer Auto.
In the 1960s, the company further focused on the urban transit bus market. In 1971, the then-financially struggling Western Flyer was sold to the Manitoba Development Corporation, an agency of the Manitoba government, and renamed Flyer Industries Limited.
On July 15, 1986, Jan den Oudsten, a descendant of the family who created the Dutch company Den Oudsten Bussen BV, purchased Flyer Industries from the Manitoba government, changing its name to New Flyer Industries Limited. Den Oudsten Bussen B.V was a bus manufacturer in its native country, the Netherlands.
New Flyer subsequently introduced North America's first low-floor bus, delivering the D40LF to the Port Authority of New York and New Jersey in 1991. Also in 1995, the first ever North American low-floor articulated bus was introduced to Strathcona County Transit of Sherwood Park, Alberta. In 2001, the delivery of 6,300 low-floor buses represented close to half of the North American fleet, confirming New Flyer as the dominant player in the transit bus manufacturing industry in North America, a role previously held by the now defunct Flxible.
In March 2002, New Flyer was acquired by KPS Special Situations Fund in New York City. Also in the same year, Mr. den Oudsten retired as CEO of New Flyer Industries Ltd. and has recently been inducted into the Hall of Fame of the American Public Transportation Association.
In 2003, King County Metro of Seattle, WA placed an order for 213 hybrid buses, the first large order for hybrid buses. On December 15 of the same year, New Flyer announced that Harvest Partners, Inc., a New York-based private equity firm, had entered into definitive agreements to acquire New Flyer Industries Limited, from KPS Special Situations Fund. Lightyear Capital, a New York-based private equity firm, joined Harvest as a co-investor in the transaction. John Marinucci, CEO of New Flyer, said, "This is exciting news for New Flyer" And he went on to say that KPS specializes in turning around struggling businesses and that they typically do not hold assets after the turnaround has been accomplished. And that ever since the KPS purchase, New Flyer had achieved excellent operational and financial performance. He especially praised the employees.
On August 19, 2005, New Flyer announced the closing of an initial public offering in Canada of 20,000 Income Deposit Securities, becoming a publicly traded company on the Toronto Stock Exchange. That year also saw the introduction of optional redesigned front and rear endcaps for their buses. The new endcaps are an attempt to modernize and streamline the look of their fleet, which is more or less a box on wheels. Also, a new "R" suffix was applied on all units produced with the new endcaps. The redesigned endcaps made their debut with the 2005 E40LFR built for the Vancouver trolleybus system.
Between 2005 and the end of 2009, New Flyer supplied a total of 262 low-floor trolleybuses to the Greater Vancouver Transportation Authority (now known as TransLink), of which 74 were articulated (model E60LFR). The original order, placed in late 2003, was for 188 E40LFR units and 40 E60LFR units. The first E40LFR was delivered in July 2005, and the rest of the 40-foot (12 m) units were delivered between August 2006 and September 2007. The first articulated, E60LFR trolleybus arrived in Vancouver in January 2007. TransLink decided to order an additional 34 articulated units, making the total 74, and delivery of the 73 production-series E60LFR units took place between October 2007 and autumn 2009.
Another purchaser of trolleybuses from New Flyer was SEPTA, operator of the Philadelphia trolleybus system. That agency placed an order with New Flyer in February 2006 for 38 E40LFR "trackless trolleys", as trolleybuses are known there. The first vehicle was delivered in June 2007, and the remaining 37 were received by SEPTA during 2008.
In October 2008, New Flyer Industries Canada ULC was named one of Canada's Top 100 Employers by Mediacorp Canada Inc., and 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.
The company converted to a corporate structure from a trust-like structure in October, 2011. In May 2012, New Flyer and Alexander Dennis Limited announced a new joint-venture to design and manufacture medium-duty low-floor bus (or midi bus) for the North American market. New Flyer will handle production and marketing, and Alexander Dennis will handle the engineering and testing. In June 2012 New Flyer, in a joint venture with Mitsubishi Heavy Industries, the Manitoba Government, Manitoba Hydro and Red River College, unveiled a fully electric battery-powered bus.
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.
As competing manufacturer Daimler exited the North American market, New Flyer purchased the aftermarket parts business for it's Orion brand of heavy-duty transit buses for $29 million. New Flyer also agreed to take on two outstanding bus manufacturing contracts for New York City Transit and the other for King County Metro in Seattle (giving New Flyer a total of 194 firm bus orders and options for an additional 291 buses). 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.
On June 21, 2013, New Flyer Industries announced the acquisition of competing manufacturer North American Bus Industries (NABI). Upon completion of outstanding orders for heavy-duty buses, New Flyer converted NABI's Anniston, AL factory into a fourth facility to produce the Xcelcior heavy-duty transit bus.
On November 10, 2015 it agreed to acquire Motor Coach Industries from KPS Capital Partners, Inc. for $459 million USD, with the deal expected to close by the end of 2016.
On September 22, 2016, New Flyer announced that Marcopolo S.A. had reduced its holding to 6,587,834 common shares, which was about 10.8% of the outstanding shares. The company said Marcopolo remained its largest shareholder.
Each designation is preceded by a letter before the model name, which is given below.
Current New Flyer model numbers are composed of a model code, a power source code and the length of the bus. Note that not all possible combinations have been offered.
|M = MiDi
X = Xcelsior
|D = diesel
DE = diesel-electric hybrid
E = battery-electric
H = hydrogen fuel cell
N = compressed natural gas
T = electric trolleybus
|30 = 30 feet (9.1 m)|
35 = 35 feet (11 m)
40 = 40 feet (12 m)
60 = 60 feet (18 m) articulated
|Xcelsior|| 35 feet (11 m)
40 feet (12 m)
60 feet (18 m)
|102 inches (2.6 m)||2008||
|MiDi|| 30 feet (9.1 m)
35 feet (11 m)
|96 inches (2.4 m)||2013|| |
New Flyer Industries
|D40S||1988||1994||A suburban version of the D40; manufactured only for GO Transit.|
|1996||2009||Sold in the United States only.|
|1997||2010||The DE60LF was sold in the United States only.|
|1998||1999||104 units built for MTAs of Houston, Texas (METRO) and New York City (NYCTA).|
|2001||2007||One of the largest customers was OC Transpo (Ottawa, Ontario). Only a small number of DE40i (hybrid diesel/electric) versions were produced, all for Roaring Fork Transportation Authority (Aspen, Colorado).|
|2005||2010||35LFA available only in DE, 40LFA available only in C, D, DE or GE, 60LFA available only in D or DE versions, for BRT.|
|DE41LF||2007||2009||5 units built for the Hamilton Street Railway and 220 units built for the Southeastern Pennsylvania Transportation Authority (Philadelphia, Pennsylvania).|
Flyer Industries Limited
A and B suffixes denoted update versions.
|1968||1974||53||Similar in appearance to the Flxible New Look.|
|1968||1973||53||Trolleybus version of the D700/D700A; D700A shells sold to the Toronto Transit Commission (Toronto, Ontario) to reuse components from Canadian Car & Foundry-Brill T48 and T48A trolleybuses.|
|1974||1981||53||Based on the AM General Metropolitan, which itself was an updated version of the D700. Offered in -9635 (96 inches [2.4 m] × 35 feet [11 m]) and -10240 (102 inches [2.6 m] × 40 feet [12 m]) versions.|
|1974||1978||53||Trolleybus version of the D800/D800B. Notable operators of the E800 were the Massachusetts Bay Transportation Authority (Boston, Massachusetts) and San Francisco Municipal Railway (San Francisco, California). The E800A was delivered only to the Hamilton Street Railway (Hamilton, Ontario).|
|1980||1986||53||Revised front with rounded corners.|
|1982||1983||53||This trolleybus model was only built for BC Transit (Vancouver, British Columbia). Built initially as model E901A, production continued as model E902, which may be identical (no differences between the E901A and E902 have ever been identified). A total of 245 were built. Eighty E901A and E902 trolleybuses were sold to EPTM (Mendoza, Argentina) in 2008.|
|D902||1984||1984||53||This model was only built for San Francisco MUNI.|
|D2001||32||A 30-foot (9.1 m) version of the D900 that was announced but never built.|
|Western Flyer||1941||1941||Front engine highway coach; no official model name.|
|T-32||1945||1959||32||gasoline engine highway coach|
|T-36||1950||1955||36||standard highway coach|
|T36-2L||1955||1955||36||split-level 40-2L body|
|Canuck||1953||diesel rear engine prototype|
|P-37 Canuck||1955||37||gasoline rear engine|
|T-40||1949||1955||40||transit version of the C-40|
|P-37 Canuck||1955||1958||37||intercity coach|
|P-41 Canuck||1958||1964||41||diesel rear engine intercity coach|
|D500 Canuck||1964||1967||37||31 feet (9.4 m) diesel rear engine|
|D600 Canuck||1967||1968||45||38 feet (12 m) lengthened version of D500|
|Buda Lo-525||1937||1941?||32||First bus produced by company; sold to Grey Goose Bus Lines (Winnipeg, Manitoba).|
Source: New Flyer Industries Inc.
New Flyer operates four facilities where new transit buses are manufactured.
- Winnipeg, MB
- Crookston, MN
- St. Cloud, MN
- Anniston, AL
Parts Distribution Centers
New Flyer operates five facilities that distribute parts to customers. Some of these parts are built by New Flyer and some are OEM parts, built by other companies. The centers are geographically spread out to offer ground delivery service within two-days to all of the US and Canada. These facilities also provide parts for both Orion and NABI buses, after New Flyer purchased NABI and acquired the Orion parts business from Daimler in 2013.
- Winnipeg, MB
- Brampton, ON
- Hebron, KY
- Fresno, CA
- Delaware, OH
Bus Component Fabrication
- Winnipeg, MB
- TCB Industries – Elkhart, IN
New Flyer service centers are typically located in regions with the companies biggest customers. For these customers, New Flyer performs final assembly, pre-delivery inspection, acceptance, and training services for new buses. The Arnprior center also offers maintenance services for any make and model, including mid-life overhauls and collision repair.
- Arnprior, ON
- Ontario, CA
- Renton, WA
- Stauss, Ed (1988). The Bus World Encyclopedia of Buses. Woodland Hills, CA (USA): Stauss Publications. ISBN 0-9619830-0-0.
- "New Flyer Receives Order for Up To 715 Buses From King County". Welcome to New Flyer!. New Flyer Industries Inc. Retrieved 3 October 2011.
- Trolleybus Magazine No. 254 (March–April 2004), p. 43. ISSN 0266-7452.
- Trolleybus Magazine No. 263 (September–October 2005), p. 117.
- Trolleybus Magazine No. 270 (November–December 2006), p. 135.
- Trolleybus Magazine No. 277 (January–February 2008), p. 15
- Trolleybus Magazine No. 273 (May–June 2007), p. 62.
- Trolleybus Magazine No. 267 (May–June 2006), p. 71.
- Trolleybus Magazine No. 282 (November–December 2008), p. 140.
- "Reasons for Selection, 2009 Canada's Top 100 Employers Competition".
- Archived May 31, 2012, at the Wayback Machine.
- Kusch, Larry. "New Flyer green leader". Winnipeg Free Press. Retrieved 2013-04-22.
- "Brazilian bus maker loads up stake in New Flyer Industries". The Globe and Mail. 2013-01-23. Retrieved 2013-04-22.
- "New Flyer buys Orion parts business of Daimler Bus". The Globe and Mail. 2013-03-01. Retrieved 2013-04-22.
- "New Flyer buys Motor Coach Industries for $604M Cdn". CBCNews. November 10, 2015. Retrieved November 24, 2015.
- New Flyer Xcelsior info
- Sebree, Mac; and Ward, Paul (1974). The Trolley Coach in North America, pp. 329–332. Los Angeles: Interurbans. LCCN 74-20367.
- Murray, Alan (2000). World Trolleybus Encyclopaedia. Yateley, Hampshire, UK: Trolleybooks. p. 96. ISBN 0-904235-18-1.
- Trolleybus Magazine No. 247 (January–February 2003), pp. 17–18.
- "New Flyer - New Flyer Parts Overview". www.newflyer.com. Retrieved September 18, 2016.
- "Aug 11, 2016 Investor Presentation" (PDF). www.newflyer.com. August 11, 2016. Retrieved September 18, 2016.
- "TCB Enterprises". www.tcbind.com. Retrieved 2016-09-18.
- "New Flyer - Service". www.newflyer.com. Retrieved 2016-09-18.
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