By Sarah Klein
Winnipeg’s New Flyer Industries has acquired a U.S. bus manufacturing company and service centre.
North American Bus Industries, Inc. is the newest asset of the local bus manufacturer as part of a $80 million deal.
The acquisition excludes discontinued operations in Hungary and substantially all related assets and liabilities. NABI was founded in 1992, and was known prior to October 1996 as American Ikarus.
“The addition of NABI to the New Flyer family provides New Flyer with a highly complementary product line, access to new customers, a cost efficient manufacturing platform based in Alabama, and it creates a significant player in aftermarket parts,” said Paul Soubry, New Flyer’s president and CEO.
The transaction is expected to be completed later today.
