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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things
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To: Gilbert Drapeau who wrote (856)2/9/2001 3:28:58 PM
From: Gilbert Drapeau  Read Replies (1) of 1177
 
Court Approves Bombardier Bid for Engine Assets of OMC

MONTREAL, QUEBEC--FEBRUARY 9, 2001 - 14:56 EST
Bombardier announced today that the Bankcruptcy
Court of Illinois has approved the joint bid of its subsidiary
Bombardier Motor Corporation of America and JTC Acquisition LLC
for the assets of Outboard Marine Corporation (OMC) and certain of
its affiliates.

The joint bid is for a total consideration of $95 million US and
Bombardier's share is slightly more than half that amount. Upon
closing, Bombardier Motor Corporation of America will receive
specified engine assets and JTC Acquisiton LLC will receive the
boat assets. The engine assets include the Evinrude and Johnson
outboard marine engine brands as well as the FICHT fuel injection
technology.

The sale is still subject to regulatory approval.

Bombardier Inc., a diversified manufacturing and service company,
is a world leading manufacturer of business jets, regional
aircraft, rail transportation equipment and motorized recreational
products. It is also a provider of financial services and asset
management. The Corporation employs 56,000 people in 12 countries
in North America, Europe and Asia, and more than 90% of its
revenues are generated outside Canada.
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