January 4, 2018 / 1:09 PM / in a year

BRIEF-MCI To Cease Distributing Daimler's Setra Coaches

Jan 4 (Reuters) - New Flyer Industries Inc:

* MCI TO CEASE DISTRIBUTING DAIMLER’S SETRA COACHES

* NEW FLYER INDUSTRIES-EVOBUS GMBH TERMINATED DISTRIBUTION RIGHTS AGREEMENT FOR GERMAN BUILT SETRA MOTOR COACHES IN U.S., CANADA EFFECTIVE JUNE 29,2018​

* NEW FLYER-DAIMLER’S DECISION WAS BASED ON UNIT’S OWN COMPETING MOTOR COACH MODELS DID NOT ALLOW FOR SUFFICIENT ATTENTION TO SETRA BRAND IN CANADA, U.S.

* NEW FLYER INDUSTRIES INC - ‍SALES OF NEW SETRA COACHES WILL TRANSFER TO DAIMLER’S NEW NORTH AMERICAN DISTRIBUTOR IMMEDIATELY​

* NEW FLYER INDUSTRIES - ‍UNDER TERMS OF DRA, AS PART OF TRANSITION, DAIMLER WILL RE-PURCHASE NEW SETRA COACHES, SERVICE PARTS INVENTORY ON HAND AT MCI​

* NEW FLYER INDUSTRIES- PARTS SALES, SERVICE, WARRANTY SUPPORT FOR SETRA COACHES IN SERVICE WILL REMAIN WITH MOTOR COACH INDUSTRIES & TRANSFER MID-2018 Source text for Eikon: Further company coverage:

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