Bombardier's Acquisition of Adtranz Now Completed
MONTREAL, QUEBEC--APRIL 30, 2001 - 10:44 EDT
Bombardier today announced it has completed, as
of May 1st, 2001, the acquisition of DaimlerChrysler Rail Systems
GmbH (Adtranz), based in Berlin, Germany. This transaction
follows the sale and purchase agreement with DaimlerChrysler AG of
Stuttgart announced on August 4, 2000. The purchase is for a cash
consideration of US$725 million (Cdn$1.1 billion), subject to
equity adjustments.
As of May 1st, 2001, Bombardier will have full responsibility for
Adtranz' activities. Details will be provided on the new
Bombardier Transportation organization at a press conference to be
held in Berlin, on May 2, 2001, at 3:00 p.m. (Berlin time).
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 58,000 people in 12 countries
in North America, Europe and Asia, and more than 90% of its
revenues are generated outside Canada. Bombardier's revenues for
its fiscal year ended Jan. 31, 2001 totalled $16.1 billion. |
