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Be the first with the news that moves the market- Alexander Dennis Limited (TSX: NFI) announced a framework agreement with the Northern Ireland Transport Authority
- The agreement is to supply up 600 diesel-electric hybrid double-decker buses over the next few years
- It also contains an initial order for 100 buses to be delivered by autumn
- Alexander Dennis is a subsidiary of NFI Group Inc., who also own bus manufacturing companies the U.S. and Canada
- NFI Group Inc. purchased the company for $446,000,000 CAD in May of last year
- NFI Group Inc. has a current share price is 30.43 CAD, which is up 1.37 percent
Alexander Dennis, a subsidiary of NFI Group Inc., announced today that is has entered into an agreement with the National Transit Authority of Northern Ireland. The framework of the agreement stipulates that Alexander Dennis can provide up to 600 hybrid double deck buses over the next five years.
The agreement also includes an initial order for 100 hybrid buses to be delivered in autumn of this year.
The Alexander Dennis Enviro400ER is a diesel-electric hybrid bus can run emissions free for 2.5km before engaging its tandem diesel engine.
Like many modern hybrid engines, the buses utilise a lithium-ion battery. The bus also allows for this battery to be externally charged, rather than simply charging through the engine generating electricity.
Alexander Dennis CE Colin Roberts said he was “delighted” at the news.
“This order confirms our strategy of leading the market with the widest range of low and zero emission buses, enabling us to offer the right vehicle for each requirement.”
Alexander Dennis is a Britain bases subsidiary of NFI Group Inc. and a one the leading producers of double-decker buses. NFI Group Inc. purchased Alexander Dennis in May of last year for just under $550,000,000 CAD.
NFI Group Inc. is a global bus manufacturing company who also own manufacturing companies in Canada, U.S. as well as the U.K. It is listed on S&P TSX index as one of Canada’s largest trading companies.
NFI Group Inc. has a market cap of 1.9 billion CAD. Their current share price is 30.43 CAD, which is up 1.37 percent.
