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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 (954)	11/23/2001 11:54:55 AM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 1177

Bombardier Receives $140.5-Million Order for Metro Cars in China MONTREAL, QUEBEC--NOVEMBER 23, 2001 - 10:03 EST Bombardier Transportation and the Changchun Car Company (CCC) are pleased to announce that their joint venture CARC has received an order from Shenzhen Metro Co. Ltd. for the supply of 114 metro cars (19 six-car trains). The vehicles will be used for Phase 1 of the new metro system under construction in Shenzhen City. Shenzhen is located in the South of China, neighboring both Hong Kong and Guangzhou. The order is valued at $222 million Cdn (158 million Euro), and Bombardier Transportation's share is valued at some $140.5 million Cdn (100 million Euro). The first train will be manufactured in Hennigsdorf, Germany with the remaining 18 trains to be built at the CARC plant in Changchun, Jilin Province in NorthEast China (approximately 800 km North East of Beijing). Bombardier's facility in Vasteras, Sweden will provide the propulsion. The metro trainsets are planned to be delivered between early 2004 and the second half of 2005. Revenue service is scheduled to commence in December 2004. The 140-m long high capacity metro trains are based on the latest modular technology to respond to local content requirements. It incorporates advanced Bombardier Transportation designs, such as the modular aluminum carbody, state of the art propulsion and high performance bogies. Commenting on the contract, Olof Persson, President, Metros, Europe, Bombardier Transportation, said: "I am delighted that Shenzhen Metro has shown confidence in our metro products. The Shenzhen subway system will soon benefit from these new vehicles, which incorporate some of the latest metro technology, and I am sure that the new vehicles will be well received by the travelling public". Bombardier Transportation has two current rolling stock joint ventures in China. The first one, CARC, was formed by Adtranz and Changchun Car Company in 1996. Adtranz was subsequently acquired by Bombardier in May 2001. It is dedicated to the production of metro vehicles. A first contract was awarded in 2000 by the City of Guangzhou for the delivery of 156 metro cars for its Line 2. The first train is to be delivered end of 2002. The second joint venture, Bombardier Sifang Power (Qingdao) Transportation Ltd., was formed in 1998 by Bombardier Inc., Power Pacific Corporation Limited and China National Railways Locomotive and Rolling Stock Industrial Corporation (LORIC) to produce mass transit railcars. Its production facility is located at the plant of Sifang Locomotive and Rolling Stock Works, a LORIC subsidiary, in Qingdao, Shandong Province, 550 km South East of Beijing. It received a first contract in 1999 from the Ministry of Railways in China to supply 300 high-grade intercity cars. Delivery of the first vehicles is scheduled for June 2002. As consortium leader for rolling stock, Bombardier Transportation has already delivered to China the Metro Systems for Shanghai Line 1 and 2 (96 cars for Line 1 and an additional 222 cars for Line 2.), Guangzhou Line 1 (126 cars) and Hong Kong Airport Express Line (184 cars). Bombardier Transportation including its joint ventures currently employs approximately 500 people in China. It has offices located in Beijing, Shanghai, Guangzhou and Hong Kong in addition to its joint venture facilities. Bombardier Transportation is the global leader in the rail equipment, manufacturing and servicing industry. Its wide range of products includes passenger rail cars and complete rail transportation systems. It also manufactures locomotives, freight cars, propulsion & controls and provides signaling equipment and systems. 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 79,000 people in 24 countries in the Americas, Europe and Asia-Pacific and its revenues for its fiscal year ended Jan. 31, 2001 totalled $16.1 billion Cdn.