(erielack) Adtranz sold to Bombardier

["Gary R. Kazin" <gkazin_@_yahoo.com>]

DaimlerChrysler completes sale of Adtranz to
Bombardier 


May 1, 2001 

STUTTGART, Germany (AP) - 

Automaker DaimlerChrysler AG said Monday it
has completed the sale of its Adtranz
train-building arm to Canadian rival Bombardier
Inc. 

The deal was closed Monday and the business,
for which Montreal-based Bombardier is paying
dlrs 725 million in cash, will be officially handed
over Tuesday, the German-U.S. auto giant said.

The Adtranz purchase makes Bombardier a
world leader in locomotives and railway cars,
overtaking France's Alstom and Siemens of
Germany. It also frees DaimlerChrysler to focus
on its automotive business, which has been hurt
by losses in the United States. 

The European Commission approved the deal
earlier this month on condition Adtranz sell off its
regional train product line in Germany.
Bombardier also has to give European-wide
licenses to build Adtranz's regional trains and
trams to Swiss company Stadler Rail.

=====
Gary R. Kazin
DL&W Milepost R35.7
Rockaway, New Jersey

New Jersey Transit - THE WAY TO GO!!!

(I have no affiliation with New Jersey Transit.)

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