Bombardier Decides not to Proceed Further With Fairchild
Dornier
MONTREAL, QUEBEC--JUNE 18, 2002 - 08:40 EDT
Bombardier announced today that its technical,
commercial and financial review of Fairchild Dornier's 728/928
aircraft programs is now completed. Bombardier's conclusion is
not to proceed any further.
Bombardier appreciated the professionalism, support and
responsiveness shown by the German government and the Bavarian
authorities as well as by Fairchild Dornier's management and
employees. In addition to its technical analysis, Bombardier
undertook detailed discussions with customers, suppliers and
related stakeholders over a five-week period. However, these
discussions did not achieve the results required for these
programs to meet Bombardier's investments standards.
Bombardier Inc., a diversified manufacturing and services company,
is a world leading manufacturer of business jets, regional
aircraft, rail transportation equipment and motorized recreational
products. It also provides financial services and asset management
in business areas aligned with its core expertise. Headquartered
in Montreal, Canada, the Corporation has a workforce of some
80,000 people in 24 countries throughout the Americas, Europe and
Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2002
stood at $21.6 billion Cdn. Bombardier shares are traded on the
Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and
BBDd.F). |
