Go to the Globe and Mail homepage

Jump to main navigationJump to main content

New Flyer Industries has purchased a business unit that supplies repair parts for heavy-duty transit buses for about $29-million (U.S.). (Jeff Bassett/BC TRANSIT)
New Flyer Industries has purchased a business unit that supplies repair parts for heavy-duty transit buses for about $29-million (U.S.). (Jeff Bassett/BC TRANSIT)

MANUFACTURING

New Flyer buys Orion parts business of Daimler Bus Add to ...

New Flyer Industries Inc. has purchased a business unit that supplies repair parts for heavy-duty transit buses for about $29-million (U.S.).

New Flyer says the Orion aftermarket parts business, formerly part of Daimler Buses North America, generated revenue of about $54-million last year.

The purchase price, which includes an estimated $6.5-million in accounts receivable, is subject to post-closing adjustments for working capital.

More Related to this Story

“This announcement follows on the co-operative relationship we have developed with Daimler Buses North America,” New Flyer president and CEO Paul Soubry said.

In the last eight months, New Flyer has taken on two Orion bus manufacturing contracts – one for New York City Transit and the other for King County Metro in Seattle – for a total of 194 firm bus orders and options for an additional 291 buses.

“This acquisition is consistent with our strategic plan and enables New Flyer to further diversify and grow our aftermarket parts business,” Mr. Soubry said.

New Flyer is the leading manufacturer of heavy-duty transit buses in Canada and the United States with manufacturing facilities in Winnipeg and in St. Cloud and Crookston, Minn.

Together with a parts fabrication facility in Elkhart, Ind., and four parts distribution centres in Winnipeg, Brampton, Ont., Erlanger, Ky. and Fresno, Calif, and a service centre in Arnprior, Ont., it employs some 2,200 people.

Follow us on Twitter: @GlobeInvestor

 
  • DAI-N
  • NFI.UN-T
Live Discussion of DAI on StockTwits
More Discussion on DAI-N
Live Discussion of NFI.UN on StockTwits
More Discussion on NFI.UN-T

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories