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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things
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To: Martin A. Haas, Jr. who started this subject6/12/2001 11:57:09 AM
From: xtahce   of 1177
 
Bombardier Reaffirms Earns Targets For FY2002-03
Jun-12-2001

MONTREAL (Dow Jones)--Bombardier Inc. (BBD.B) believes it can achieve its target of 30% to 40% growth in earnings per share for the fiscal year ending next Jan. 31, "based on our present reading of economic prospects - and barring any further deterioriation," Robert E. Brown, president and chief executive, said at the annual meeting.

"We are also confident in maintaining our growth target of 20% to 30% for fiscal 2003," Brown said.

For this year, Brown said, Bombardier's priorities include:
-the successful integration of Adtranz, the German rail-equipment maker recently acquired by Bombardier;
-a "smooth start-up" of the new CRJ700 and CRJ900 regional-jet assembly plant at Mirabel, Que.;
-integration and reorganization of the recently acquired OMC outboard-motor assets and a "timely relaunch" of the Johnson and Evinrude brands;
-"monitoring the performance at Bombardier Capital";
-"maintaining our overall focus on cost and quality and meeting our Six Sigma goals."

Regarding Bombardier's overall strategy, Brown said the Adtranz and OMC acquisitions represent "a couple of very significant steps" to diversify and balance the company's businesses. In recent years, aerospace had weighed increasingly heavily in the company's financial performance.

"We are definitely going to continue our efforts toward further diversification," Brown said. "It is in that context that we have createdBombardier International, whose mission is to contribute to Bombardier's geographic diversification by extending our markets to regions of the world with a high potential and where our products have a low penetration, so far."
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