Strength of Canadian Dollar and Drop in Profits
Leads to Closure of Company

SAINT-LIN-LAURENTIDES, Quebec (Sept. 18, 2007) — Corbeil Bus decided to end all its operations today, sending out a press release and notifying the Canadian media.

A recent decrease in profits and demand for its Type A buses, as well as a changing Canadian economy, led officials to dismiss its 205 employees at its only plant in Saint-Lin-Laurentides, 30 miles north of Montreal.

A committee was created to help the departing workers find other jobs, with some looking for employment with Nova Bus, a manufacturer of buses for transit agencies in the United States and Canada, located a little over 30 miles south in Saint-Eustache.

CEO Camille Chartrand told the Canadian press that increasing export costs were making it difficult to compete with the five American school bus manufacturers.