01/01/2019

 


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  Stagecoach Group to sell its North America Division

Sale of North America Division for estimated enterprise value of US$271m

Stagecoach Group plc ("Stagecoach") is pleased to announce that it has entered into an agreement to sell its North America Division to an affiliate of Variant Equity Advisors, LLC ("Variant") (the "Disposal"), for an estimated enterprise valuation of US$271.4m.


Stagecoach's North America Division operates bus and coach services. It provides megabus.com inter-city coach services, commuter services, airport transportation, sightseeing tours, charters and contract services across North America. It is one of the largest ground transportation operators in North America with around 4,500 employees and more than 2,000 buses and coaches.

The cash proceeds will be used to reduce Stagecoach's consolidated net debt and the Disposal is expected to complete by the end of the current financial year to 27 April 2019.

Martin Griffiths, Stagecoach Chief Executive, commented:  "During our two decades in the North American transportation market, our success included reinvigorating the inter-city coach sector and delivering growth with our innovative megabus.com brand. We have a great team of people who have ensured we have played a leading role in the development of public transportation in the United States and Canada."

Information regarding Stagecoach's North America Division:  Stagecoach's North America Division operates bus and coach services. It provides megabus.com inter-city coach services, commuter services, airport transportation, sightseeing tours, charters and contract services across North America. It is one of the largest ground transportation.............  READ MORE >

 
   
  UMA expects record attendance at 2019 Congressional Fly-In


 

The United Motorcoach Association (UMA) will host hundreds of individual representatives from a variety of the bus and motorcoach industry groups as it plans the largest industry legislative fly-in event of its kind. Industry representatives will join together with the common goal of meeting with members of Congress to discuss issues critical to the overall protection of the industry.

The event will take place April 2 to 3 in Washington D.C.


The United Motorcoach Association (UMA) will host hundreds of individual representatives from a variety of the bus and motorcoach industry groups as it plans the largest industry legislative fly-in event of its kind. Industry representatives will join together with the common goal of meeting with members of Congress to discuss issues critical to the overall protection of the industry.

By the end of these meetings, UMA's goal is to have educated legislators about the value of the bus and motorcoach industry, its concerns, and envisioned solutions.

"I am pleased with the growing energy and collaboration transpiring between a wide-variety of industry leaders who will be coming together with a single agenda for this important event. We are excited to expand the invitation list this year to include all industry leaders, both regional and national, to unite and provide input for this year's legislative agenda." said...........READ MORE >

 
  EPA Offering $40M in Diesel Emission Reduction Grants

From School Bus Fleet:

WASHINGTON, D.C. - The U.S. Environmental Protection Agency (EPA) announced on Thursday that about $40 million is available for projects that significantly reduce diesel emissions, particularly in areas designated as having poor air quality. Priority will be granted to projects that benefit communities and applicants that demonstrate an ability to continue efforts to reduce emissions after the project has ended. The agency anticipates making between 40 and 80 awards from this round of funding.

"By financially supporting projects that upgrade aging diesel engines, EPA is helping improve their efficiency and reduce air pollution throughout the nation," said EPA Acting Administrator Andrew Wheeler. "From our grant programs to our new Cleaner Trucks Initiative, EPA is taking important steps to help modernize heavy-duty trucks and provide cleaner, more efficient methods of transportation that will protect the environment and keep our economy growing."


The U.S. Environmental Protection Agency (EPA) announced on Thursday that about $40 million is available for projects that significantly reduce diesel emissions, particularly in areas designated as having poor air quality. Priority will be granted to projects that benefit communities and applicants that demonstrate an ability to continue efforts to reduce emissions after the project has ended. The agency anticipates making between 40 and 80 awards from this round of funding.

School buses are included in the vehicle types that are eligible for the funding and school districts are among the eligible entities.

Funds can be used for clean diesel projects such as EPA- or CARB-verified technologies or certified engines; EPA-verified idle-reduction technologies, aerodynamic technologies, and low-rolling resistance tires; and early engine, vehicle, or equipment replacements with certified engine configurations...............READ MORE >

 



 

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