New Flyer Industries acquires ARBOC Specialty Vehicles for US$95 million
December 01, 2017 - 8:18 AM
WINNIPEG - Bus maker New Flyer Industries Inc. says it has acquired ARBOC Specialty Vehicles, LLC for US$95 million.
ARBOC is focused on low-floor bus technology and produces buses used in transit, paratransit and shuttle applications.
The company employs approximately 100 people and has a facility in Middlebury, Ind.
New Flyer (TSX:NFI) says ARBOC's management team will remain in place.
Management expects ARBOC will deliver approximately 500 buses in 2018, up from roughly 360 buses in 2017.
ARBOC's current firm backlog for 2018 includes over 320 orders.
News from © The Canadian Press, 2017