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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (647)	9/28/1999 7:00:00 PM
From: Jay Anderson	Respond to of 1177

Canadian Company Press Release BBD.A 1999-09-28 (provided courtesy of Canadian Corporate News.) register to receive future releases by email from CCN BOMBARDIER SELLS SIX REGIONAL AIRLINERS TO OPERATORS IN EUROPE AND MIDDLE EAST TORONTO, ONTARIO--Bombardier Aerospace today announced sales of six regional aircraft valued at close to US $127 million (Cdn $187 million) to two airlines in Europe and one in the Middle East. Maersk Air of Birmingham, England, a British Airways franchise carrier, converted an existing option into a firm order for one long range version of the Canadair Regional Jet (r) Series 200 aircraft. To date, the carrier has taken delivery of six CRJ200 LRs and now has backlogged orders for eight additional CRJ aircraft. Maersk Air was the U.K. launch customer for the new 70-seat CRJ700 Series regional jet which will enter airline service early in 2001. Adria Airways of Ljubljana, Slovenia ordered an additional CRJ200. The airline was the first CRJ operator in Central Europe when it placed a firm order for two CRJ200 LR aircraft early in 1997. It ordered a third aircraft early in 1998. Palestinian Airlines of Gaza, a new Bombardier Aerospace customer, will acquire two 50-seat Q300 Dash 8(r) and two 50-seat CRJ200 Series LR aircraft for its growing route network in the Middle East. Palestinian Airlines currently flies from Gaza to Amman, Cairo, Jeddah, Dubai, Abu Dhabi and Doha. It plans to begin services to Larnaca and Istanbul in the near future. Bombardier Aerospace, a unit of Bombardier Inc., is the world's third largest civil aircraft manufacturer with operations in three countries. Leading the 20- to 70-passenger regional carrier market, Bombardier Aerospace offers complete families of turboprop and regional jet aircraft. It has the industry's widest range of business jets, offering both full and fractional ownership, and also produces firefighting/maritime mission aircraft. It provides technical services, aircraft maintenance and pilot training to business, regional airline and military customers. Bombardier Inc. is a Canadian corporation active in the fields of aerospace, rail transportation equipment, recreational products, financial services and services related to its products and core businesses. It operates plants in 12 countries in North America, Europe and Asia, and more than 90 per cent of its revenues are generated outside Canada. Bombardier's revenues for its fiscal year ended January 31, 1999, totalled Cdn $11.5 billion.

To: Gilbert Drapeau who wrote (647)	9/30/1999 10:18:00 AM
From: Gilbert Drapeau	Read Replies (2) \| Respond to of 1177

Bombardier Sets Three and Five Year Revenue and Earnings Targets SEPTEMBER 30, 1999 MONTREAL, QUEBEC--In the context of a meeting today with analysts and investors, Bombardier provided its three and five-year targets for revenue and earnings growth as well as an update on each of its main business segments. The Corporation also announced its intention to study the market for the CRJ 900, a 90-seat stretched version of its successful family of 50 - and 70-seat Canadair Regional Jet. Bombardier will also continue to assess the opportunity of launching an all-new commercial aircraft in the 100-seat category. President and Chief Executive Officer Robert E. Brown stated that "as a result of a target annual revenue growth of an average of 20 % over the next three years, and earnings before tax margin of 10 % by fiscal 2001-2002, I am confident in setting a target of 30 to 35 % earnings growth for the current fiscal year and of 30 to 40 % for each of the years ending January 31, 2001 and 2002." "The last 12 months have been good to Bombardier, noted Mr. Brown. We had a record year in fiscal 1998-99 in revenues, earnings and backlog. For the first six months of fiscal 1999-2000, we are doing even better with revenues up 25 % and earnings per share up 33 %. Backlog was up 40 % to $26 billion as compared to a backlog of $18.6 billion at July 31, 1998." Mr. Brown added that "based on our target of doubling our revenues over the five-year period and achieving our new target of earnings before tax margin of 11 % in fiscal 2003-2004, we are aiming for a compounded annual EBT growth rate of 25 % for the period, assuming that the present economic conditions continue to prevail." In his comments, Executive Vice President Yvan Allaire underlined Bombardier's cash generation potential and conservative balance sheet which support its targeted earnings growth. Group Presidents and Chief Operating Officers provided additional details on Bombardier's main business segments. In aerospace, Mike Graff outlined the basis for Bombardier's approach to the 90 - plus seat commercial aircraft market with two new product offerings. "First, a stretched version of the CRJ aircraft, the CRJ 900 which would allow customers family commonality across 50, 70, and 90-seat aircraft with superb economics, and if we proceed, first deliveries could start in 2002. Second, an all-new commercial jet in the 100-seat category could fill a niche which is not being optimally served by existingaircraft." Commenting on the performance of his group for the year, Mr. Graff stated that aircraft deliveries are forecasted to reach close to 300 units, up by more than 30 % from 227 units last year. With the recently announced production rate increase of the CRJ 200 aircraft and deliveries of the new 70-seat Q400 Dash 8 and CRJ 700, increased deliveries of some 20 % is targeted for fiscal 2000-2001. In recreational products, Pierre Beaudoin confirmed that the successful implementation of the restructuring plan has allowed for a return to modest profitability this year even with continued investments in new products. The group launched new personal watercraft models that reduce noise and emissions and improve fuel-efficiency, and introduced a new line of Sea-Doo* sport boats in alliance with Mercury Marine. The Traxter* ATV launched last year and a second model launched this year have been very well received in the marketplace. Jean-Yves Leblanc noted that Bombardier Transportation has moved this year to the number one position worldwide in passenger railcars based on new order intake and reaffirmed his commitment to continue to grow as a global leader in railcar manufacturing, maintenance and turn-key mass transit systems. He provided details on a plan to adjust Bombardier Transportation's German operations and workforce to market demand. The plan now in discussion with the Workers Councils calls for a reduction in total employment of approximately 25 % throughout the production network during year 2000. The one time costs of this adjustment is estimated at between $30 million and $40 million. On its ongoing operations, it is expected that the transportation segment will continue to improve its EBT margin on revenues this year compared to last year. For Bombardier Capital, Pierre-Andre Roy set out targets of more than doubling revenues over the next five years and reaching an EBT margin of 15 % by fiscal 2001-2002. Pierre Lortie noted the progress achieved by Bombardier International in building relationships, securing low-cost sourcing and supporting successful sales campaigns in China, Japan, and other targeted markets. Bombardier Inc. is a Canadian corporation active in the fields of aerospace, rail transportation equipment, recreational products and financial services. It operates plants 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 January 31, 1999 totalled $11.5 billion. This press release includes "forward looking statements" that are subject to risks and uncertainties. For information identifiying economic, climatic, currency, technological, competitive and other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see Bombardier Annual Report under the heading Risks and Uncertainties in the Management's Discussion and Analysis section.