Winnipeg-based bus manufacturer New Flyer Industries is purchasing Motor Coach Industries for $455 million U.S.
MCI is based in the United States, but was founded in Winnipeg in 1933 as a motor coach manufacturer and parts and service supplier.
“We are thrilled to combine North America’s #1 brand in heavy duty-transit buses with North America’s #1 brand in motor coaches,” said Paul Soubry, New Flyer’s president and CEO.
The deal is subject to regulatory approval on both sides of the border.
Both sides expect the transaction to close before the end of the year.
New Flyer employs about 3,300 people across the company.