Associated tags: Natural gas, Toronto Stock Exchange, NFI, News, OTC, TSX, City, Transport, EV, VIC
Locations: UKRAINE, EUROPE, HONG KONG, NEW ZEALAND, IRELAND, ONTARIO, QUEBEC, US, WINNIPEG, MB, CA, ERNST, RUSSIA, EU, UK, MIDDLE EAST, ISRAEL, UNITED STATES, MANITOBA
“I’m pleased to welcome Anne Marie O’Donovan to our Board, whose expertise in finance and public company governance will be a tremendous addition not only as a director, but also as Chair of our Audit Committee,” said Ms. Wendy Kei, Chair of the Board.
Key Points:
- “I’m pleased to welcome Anne Marie O’Donovan to our Board, whose expertise in finance and public company governance will be a tremendous addition not only as a director, but also as Chair of our Audit Committee,” said Ms. Wendy Kei, Chair of the Board.
- “Looking to the remainder of fiscal 2024 and into the longer-term, NFI is very well positioned to benefit from record investments in public transportation, the transition to zero-emission mobility, and its solid market position and backlog.
- Our Board remains extremely confident in NFI’s management team and will continue to play an active role in overseeing the Company’s recovery as it delivers on its sustainability pledge to deliver a better product, a better workplace and a better world.”
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WIP WINNIPEG, Manitoba, May 02, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited interim condensed consolidated financial results for the first quarter of 2024.
Key Points:
- Results noted herein are for the 13-week period ("2024 Q1”) and the 52-week period ("2024 Q1 LTM”) ended March 31, 2024.
- NFI generated $10 million in cash flows from working capital in the first quarter of 2024, as higher vehicle deliveries lowered finished goods and work-in-process (“WIP”) inventory.
- NFI anticipates that nearly all of the remaining legacy inflation-impacted contracts will be delivered during the second quarter of 2024.
- NFI reiterates its previously provided financial guidance for Fiscal 2024 and targets for 2025 as disclosed on January 17, 2024.
Retrieved on:
Wednesday, April 17, 2024
NFI encourages attendees to join via webcast as a results presentation will be presented and users can also submit questions to management through the platform.
Key Points:
- NFI encourages attendees to join via webcast as a results presentation will be presented and users can also submit questions to management through the platform.
- NFI’s Annual Meeting of Shareholders (the “Shareholders’ Meeting”) will be held virtually on Friday, May 3, 2024, at 11:00 a.m.
- The materials for the Shareholders’ Meeting and voting instructions will be sent to shareholders in advance of the meeting.
- Details on how to join the meeting, along with other relevant documents, including the Management Information Circular, have been posted on NFI’s website at: https://www.nfigroup.com/events-and-presentation/annual-general-meeting .
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Transport ST. CLOUD, Minn., March 11, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) New Flyer of America Inc. (New Flyer), a subsidiary of NFI Group Inc. (NFI) and North America’s leading manufacturer of heavy-duty transit buses, today announced that it has been awarded two new contracts from the New York City Transit Authority (NYCT) including firm orders for 429 Xcelsior® buses (671 equivalent units or EUs) with options to purchase up to 1,661 additional buses (2,379 EUs) over the next five years.
Key Points:
- The battery-electric vehicles manufactured under these contracts will support MTA’s goal of transitioning the agency’s entire bus fleet to zero-emission alternatives by 2040.
- NYCT’s battery-electric vehicle purchase was supported through the Federal Transit Administration (FTA) Low or No Emission (Low-No) grant program.
- The EUs from these two contracts were previously included in bid award pending and now move into NFI’s backlog.
- Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for EV and infrastructure training.
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Thursday, February 29, 2024
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Bank WINNIPEG, Manitoba, Feb. 29, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its audited consolidated financial results for Fiscal 2023.
Key Points:
- Results noted herein are for the 13-week period ("2023 Q4”) and the 52-week period ("Fiscal 2023”) ended December 31, 2023.
- The comparisons reported in this press release compare 2023 Q4 to the 13-week period ("2022 Q4") and Fiscal 2023 to the 53-week period ("Fiscal 2022") ended January 1, 2023.
- Comparisons and comments are also made to the 13-week period (“2023 Q3”) ended October 1, 2023.
- NFI generated $19 million in cash flows from working capital in the fourth quarter as higher vehicle deliveries lowered finished goods and work-in-progress inventory.
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Monday, February 26, 2024
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Rail transport LARBERT, United Kingdom, Feb. 26, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI or the Company), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, subsidiary Alexander Dennis Limited (Alexander Dennis) today announced that its next-generation Enviro400EV electric double decker has completed the Zemo Partnership’s zero-emission bus testing and certification program.
Key Points:
- The work, which was undertaken at UTAC’s approved test facility at Millbrook Proving Ground, confirms an average energy consumption of just 0.67kWh/km across the UK Bus Cycle.
- This makes the next-generation Enviro400EV the most efficient battery-electric double decker tested to Zemo Partnership standards to date, delivering a 10% efficiency advantage over competitors’ vehicles of comparable battery size.
- The UK Bus Cycle represents a mix of common operating conditions with separate phases modelled on inner urban, outer urban and rural routes.
- NFI offers the widest range of zero-emission battery and fuel cell-electric buses and coaches, and its vehicles have completed over 150 million EV service miles.
Retrieved on:
Tuesday, February 20, 2024
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Silver Streak LARBERT, United Kingdom, Feb. 20, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI or the Company), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, subsidiary Alexander Dennis Limited (Alexander Dennis) today announced it has been awarded a contract to build 12 new battery-electric Enviro500EV double deck buses for California customer Foothill Transit.
Key Points:
- LARBERT, United Kingdom, Feb. 20, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI or the Company), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, subsidiary Alexander Dennis Limited (Alexander Dennis) today announced it has been awarded a contract to build 12 new battery-electric Enviro500EV double deck buses for California customer Foothill Transit.
- Committed to innovation and sustainability, Foothill Transit strives to provide reliable and eco-friendly transportation solutions for the communities it serves.
- Its flagship Silver Streak route to downtown Los Angeles will be further upgraded in 2026 with the 12 new electric double deckers.
- We are proud to partner with Alexander Dennis to bring these cutting-edge double deck electric buses to our communities.
Retrieved on:
Thursday, February 15, 2024
A conference call for analysts and interested listeners will be held on February 29, 2024, at 8:30 a.m. Eastern Time (ET).
Key Points:
- A conference call for analysts and interested listeners will be held on February 29, 2024, at 8:30 a.m. Eastern Time (ET).
- An accompanying results presentation will be available prior to market open on February 29, 2024, at www.nfigroup.com .
- For attendees who wish to join by webcast, registration is not required; the event can be accessed at https://edge.media-server.com/mmc/p/rkdhw7si .
- NFI encourages attendees to join via webcast as a results presentation will be presented and users can also submit questions to management through the platform.
Retrieved on:
Monday, February 12, 2024
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City LARBERT, United Kingdom, Feb. 12, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, subsidiary Alexander Dennis Limited (“Alexander Dennis”) today announced that Sound Transit, which provides regional transit in the Seattle metropolitan area, has placed a firm order for 33 zero-emission Enviro500EV buses. The double deck buses for Sound Transit are scheduled for delivery in 2026 by Alexander Dennis Incorporated, the U.S. affiliate of Alexander Dennis, and will be built in the United States by Alexander Dennis’ partner Big Rig Manufacturing.
Key Points:
- LARBERT, United Kingdom, Feb. 12, 2024 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (“NFI” or the “Company”), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, subsidiary Alexander Dennis Limited (“Alexander Dennis”) today announced that Sound Transit, which provides regional transit in the Seattle metropolitan area, has placed a firm order for 33 zero-emission Enviro500EV buses.
- The double deck buses for Sound Transit are scheduled for delivery in 2026 by Alexander Dennis Incorporated, the U.S. affiliate of Alexander Dennis, and will be built in the United States by Alexander Dennis’ partner Big Rig Manufacturing.
- Sound Transit was an early adopter of the unique benefits of double deck buses and today uses a fleet of 50 Enviro500 on express routes operating out of Everett.
- The Stride Enviro500EV will be the first Alexander Dennis in North America using the manufacturer’s next-generation zero-emission technology platform.
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Renewable energy The White House in coordination with the Federal Transit Administration (“FTA”) and the American Public Transportation Association (“APTA”), convened the Roundtable focused on ensuring U.S. domestic manufacturing capacity to deliver clean transit buses is at the scale and pace needed to meet market demand and achieve national climate and equity goals.
Key Points:
- The White House in coordination with the Federal Transit Administration (“FTA”) and the American Public Transportation Association (“APTA”), convened the Roundtable focused on ensuring U.S. domestic manufacturing capacity to deliver clean transit buses is at the scale and pace needed to meet market demand and achieve national climate and equity goals.
- The Task Force recommended, amongst other things, three immediate changes in bus contracts: price adjustments, progress payments, and the use of price indices.
- “NFI was honored to participate in the White House Roundtable,” said Mr. Soubry.
- Since opening in late 2017, the VIC has hosted over 350 interactive events, welcoming 7,000 industry professionals for EV and infrastructure training.
