11/17/2015

Our Prayers are with the people of Paris, and all peace-loving people everywhere.



 New Flyer to acquire Motor Coach Industries

As reported in BUS WEEKLY on 11/10/2015, New Flyer Industries Inc. announced that it has entered into a definitive agreement to acquire Motor Coach Industries International, Inc. ("MCI") from an affiliate of KPS Capital Partners, L.P.

The following article appeared in METRO Magazine later that same day:

New Flyer Industries Inc. entered into a definitive agreement to acquire Motor Coach Industries International Inc. ("MCI") from an affiliate of KPS Capital Partners L.P. for cash consideration of $455 million, subject to certain purchase price adjustments.

The completion of the transaction is subject to customary closing conditions including U.S. anti-trust and Canadian Competition Act approvals. Management currently expects the Transaction to close by the end of 2015.

Founded in 1933 in Winnipeg, Manitoba, MCI is North America’s leading motorcoach manufacturer and parts and service supplier with 3 manufacturing facilities and nine service and parts distribution centers. As of Dec. 31, 2014, MCI had the largest installed base of motorcoaches in North America with approximately 28,000 units, nearly twice the installed base of its nearest competitor.

Well known in the industry for best-in-class quality, reliability, lowest cost of ownership, and a robust coach aftermarket parts and services offering, MCI’s business parallels New Flyer’s leading position in the North American heavy-duty transit bus industry. While there are a few common public customers, MCI does not compete with New Flyer.

For the nine months ended Sept. 30, MCI delivered 576 new coaches resulting in new coach revenue of approximately $315 million and also generated pre-owned coach and aftermarket parts and service combined revenue of approximately $128 million. Total revenue for this period was approximately $443 million.

 

READ MORE >

 
   MBTA to unveil winter plan, approves PTC contract
BOSTON  -  The Massachusetts Bay Transportation Authority (MBTA) and Keolis are set explain their winter weather plans at a media event Wednesday, the Boston Globe reported.

Earlier this year, Gov. Charlie Baker announced an $83 million plan to prevent the same problems the system experienced last winter. The T’s winter plan on the subway includes the installation of snow plows on Red and Orange Line trains and new third rail on the Red Line.

The plan also called for increased use of contractors to help clear snow, new fencing on the Red and Orange lines to keep snow from blowing onto tracks, repairing old snow equipment and the purchase of new equipment. For the full story, click here.

Additionally, the fiscal control board that oversees the MBTA approved a $450 million contract to install positive train control on all of its commuter rail lines within five years, NBC 10 reported.

MBTA officials are concerned the project will add to an already tenuous financial situation for the agency, but officials hope to seek federal funding to offset the costs, according to the report. For the full story, click here.
 

 

READ MORE >

 

 

Bus Weekly Classified Ads

Contact Us Today
for Classified Ads Placement and Sizes!

LIMITED TIME OFFERS
available only on BUS WEEKLY

 

Bus Weekly created and distributed by BusyBrain, Inc. - Electronic Marketing Since 1999