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Paul Soubry, president and CEO of bus manufacturer New Flyer Industries in Winnipeg.
Paul Soubry, president and CEO of bus manufacturer New Flyer Industries in Winnipeg.
(Ian McCausland/Courtesy of New Flyer Industries)

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Brazilian investment sets New Flyer on course for acquisitions

New Flyer Industries Inc. knows the heavy-duty bus market well, but when the recession tightened pockets of its big U.S. government customers the company knew it had to make some major changes.

On Wednesday, New Flyer surprised the market with an investment from the world’s second-largest bus maker, bringing it one step closer to being the diversified, full-service bus manufacturer it badly wants to be.