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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 (1047)	9/27/2002 12:57:55 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 1177

Bombardier Aerospace Implements Measures to Meet Market Challenges MONTREAL, QUEBEC--SEPTEMBER 27, 2002 - 07:32 EDT Bombardier Aerospace today announced that it is taking steps to adjust its cost structure to the current business environment. Adjustments include a reduction in its staffing and production levels at all of its sites. A total of 1,980 employees, including 20 per cent of management, will be laid off at Bombardier Aerospace facilities in Canada, the United States and the United Kingdom, beginning in October 2002. Reduction in staffing levels /T/ The breakdown of the manpower reduction beginning in October 2002 is as follows: ---------------------------------------------------------------------- Site Manpower reductions ---------------------------------------------------------------------- Belfast 240 ---------------------------------------------------------------------- Montreal 915 ---------------------------------------------------------------------- Toronto 365 ---------------------------------------------------------------------- Tucson 210 ---------------------------------------------------------------------- Wichita 50 ---------------------------------------------------------------------- Other locations 200 ---------------------------------------------------------------------- Production activity affected In addition, Bombardier will temporarily cutback production of some of its aircraft programs at its sites in Belfast, Montreal, Toronto and Wichita. The reduced production levels affect the following manufacturing work. They will take effect over the following weeks: * In Belfast, business aircraft component manufacturing will be affected; * In Montreal, production of the Bombardier Challenger(R) 604 business jet will be reduced over a four-month period; * In Toronto, all manufacturing work will be interrupted for six to eight weeks, beginning in late November, impacting the Bombardier Q* Series turboprop aircraft and the Bombardier Global family of business aircraft production lines. Some 1,600 employees will be affected during this period; * In Wichita, production of the Bombardier Learjet(R) 45 and Learjet 60 will be interrupted for a period of four months beginning in December, affecting some 500 employees. The Bombardier Challenger 300 and Bombardier Learjet 40 development programs and entry-into-service schedules are not impacted by these measures. /T/ Bombardier Aerospace, a unit of Bombardier Inc., is a world leader in the design, and manufacture of innovative aviation products and provides services for the regional, business and amphibious aircraft markets. It also offers Bombardier Flexjet(R) fractional ownership, aircraft charter and management, technical services, aircraft maintenance and pilot training for business, regional airline and military customers. 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 trades on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). (R) Registered Trademark of Bombardier Inc. * Trademarks of Bombardier Inc.