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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (10580)	11/25/1998 12:14:00 PM
From: Redhead	Respond to of 29382

DD... Did you see this news release???? NOV 24, 1998, M2 Communications - Bombardier Aerospace and long-time manufacturing supplier Xian Aircraft Company (XAC) have signed a new agreement for the production of major structural components for up to 50 Canadair 415 firefighting amphibious aircraft over the next several years. The contract follows XAC's completion of an initial order of these components for 50 Canadair 415 aircraft as well as Xian's long-term involvement in providing the same components for the earlier-generation CL-215 amphibians. "This latest agreement reaffirms Bombardier's commitment to industrial cooperation with Chinese companies as well as to the development of the aircraft manufacturing sector in China," said Pierre Lortie, president and chief operating officer, Bombardier International, during the 20th meeting of the Canada-China Business Council meeting in Beijing. "Moreover, we anticipate an expanded role for China in our future aircraft manufacturing plans." XAC, based in Xian, will produce all of the doors, float pylons and ailerons for the CL-415. These will be shipped to Canada for final assembly. In 1980, Xian Aircraft became the first Chinese company to produce sub assemblies for a Western aircraft manufacturer when it signed the CL-215 subcontract with the Canadair unit of Bombardier. The Canadian-based transportation giant has since steadily increased its activities in the country, both in manufacturing and aircraft sales. "We are very proud of our long history of cooperation and partnerships in China and are delighted to be able to conclude this agreement with Xian," commented Mr. Lortie. Poly Technologies Inc. of Beijing, China, a diversified company active in import/export, acted as agent in facilitating the latest agreement with Xian Aircraft. The initial agreement had been facilitated by CATIC, an aviation import/export company under AVIC responsible for civil aviation product trading and production in China. "Both of these agencies have been invaluable partners in our efforts to increase our cooperation with Chinese manufacturers," noted Mr. Lortie. The agreement with Xian comes amidst growing demand for the Canadair 415, the world's only purpose -- designed and purpose -- built fire-fighting amphibian aircraft. Officially launched in October 1991, some 40 of the famous waterbombers have been sold to agencies in Canada, Croatia, France and Italy and have frequently been credited with being of invaluable assistance in the success of firefighters' efforts. While primarily targeted for the fire-fighting market, the Canadair 415 can also be configured for other utility roles such as coastal patrol, search and rescue and utility transport. Bombardier Aerospace, a unit of Bombardier Inc., is the world's third largest civil aircraft manufacturer with its Canadair and de Havilland operations in Canada, Learjet in the United States and Shorts in the United Kingdom. Leading the 20- to 70-passenger regional carrier market, Bombardier Aerospace offers complete families of Dash 8 turboprop and Canadair Regional Jet aircraft. It has the industry's widest range of business jets, from the light and mid-size Learjet series to the widebody Challenger and ultra long-range Global Express. It also produces the Canadair 415 firefighting/maritime mission aircraft and designs and manufactures airframe components and aircraft engine nacelles. 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 11 countries in North America and Europe and more than 88 per cent of its revenues are generated outside Canada. Bombardier's revenues for its fiscal year ended January 31, 1998 totalled $8.5 billion. -------------------------------------------------------------------------------- (C)1994-98 M2 COMMUNICATIONS LTDCONTACT: Ahmed Galipeau Tel: +1 514 855-7987 Catherine Chase Tel: +1 514 855-7980 M2 COMMUNICATIONS DISCLAIMS ALL LIABILITY FOR INFORMATION PROVIDED WITHIN M2 PRESSWIRE. DATA SUPPLIED BY NAMED PARTY/PARTIES. Wed Nov 25 12:09:03 EST 1998 - quotes are real-time.