Bombardier Inc. announced today that a settlement agreement has been reached with DaimlerChrysler AG on all their outstanding disputes arising from the acquisition by Bombardier of DaimlerChrysler Rail Systems GmbH (Adtranz). Both companies have agreed to a reduction of €170 million, which represents approximately $209 million US, or approximately 30% of the original purchase price of $725 million US.
The terms of the settlement agreement are and will remain confidential. This settlement puts an end to the arbitration between the two companies.
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). News and information are available at www.bombardier.com.
Vice President, Communications