Bus manufacturing giant NFI is teetering on the brink of a financial disaster. Can it get the bus rolling again? Read on.
pledges were even a thing among politicians, and before billions of dollars in new government funding had been made available to accelerate mass transit’s green transition.Article content
“The company has faced some fairly significant challenges in the past few years and, to be fair, a lot if not most of the challenges were from things out of their control,” Cameron Doerksen, a transportation sector analyst at National Bank Financial, said. “It is hard to see what NFI would have done differently.”
Put another way, things might be fine in the immediate term, but if you are not looking ahead to where you are going, and in the rear-view mirror from where you have come, then you never really know what direction you are headed in. That’s why, despite all the recent challenges, what Soubry sees ahead is a massive, unprecedented opportunity.
The demand and the guaranteed money behind it are reflected by the more than 8,000 buses NFI currently has on its order books. What stands out about New Flyer, said Andy Biesterveld, chief engineer at the Central Ohio Transit Authority, is the company’s long track record of manufacturing reliable buses.“We knew that we would not have any quality issues,” he said. “New Flyer is first and foremost a bus company. They know how to make buses.”
Here is something you probably don’t know: public transit buses are highly customized vehicles. No one bus fits all. Every transit authority that places an order with NFI has a list of specific wants. The door that works great for COTA might not work for Los Angeles.
Much as he loves buses, it is little wonder that Soubry needs to blow off a little steam every now and again. That’s when he can rely on old friends, such as Tim Steadman, to help with the cause.
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