Bombardier Sells its Defense Services Business in the United Kingdom.Business Editors MONTREAL--(BUSINESS WIRE)--May 19, 2000 (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. .A.) (TSE:BBD.B.) Bombardier Services (UK) Limited has signed a contract to sell its business of defence services in the UK, including its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Airwork Ltd, to subsidiaries of Vosper Thornycroft (UK) Limited of the United Kingdom for 30 million pounds sterling (Cdn. $66.7 million). The completion of the transaction is conditional upon the approval of the transfer of certain contracts, primarily with the Ministry of Defence of the United Kingdom. The transaction is scheduled to be completed at the end of May 2000. Robert E. Brown Robert E . "Bob" Brown (18 April 1927 - 29 November 2005) was an ethnomusicologist who is credited with coining the term "world music". He was also well known for his recordings of music from Indonesia. , president and chief executive officer for Bombardier said: "We believe the sale of Bombardier Defence Services UK to Vosper Thornycroft, which is a leading service provider of military support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services in the UK, is in the long term interest of Bombardier Defence Services UK and its employees. "Bombardier Defence Services UK, which employs 2,500 people in the UK and the Middle East, will be much better placed to realize its potential as a fully integrated part of the core activities of Vosper Thornycroft." Bombardier Aerospace, a unit of Bombardier Inc., is the world's premier business, regional and amphibious aircraft manufacturer. With full design and production capabilities in three countries, it offers the most comprehensive families of turboprop turboprop: see turbine. turboprop Hybrid engine that provides jet thrust and also drives a propeller. It is similar to the turbojet except that an added turbine, behind the combustion chamber, works through a shaft and speed-reducing gears to turn a and regional jet aircraft and, the widest range of business jets. It also provides the Flexjet fractional ownership program, technical services, aircraft maintenance and pilot training for business, regional airline and military customers. Bombardier Inc., a diversified manufacturing and service company, is a world leading manufacturer of business jets, regional aircraft, passenger railcars and motorized mo·tor·ize tr.v. mo·tor·ized, mo·tor·iz·ing, mo·tor·iz·es 1. To equip with a motor. 2. To supply with motor-driven vehicles. 3. To provide with automobiles. recreational products. It is also a provider of financial services and asset management. The Corporation employs 56,000 people in 12 countries in North America, Europe and Asia, and more than 90 per cent of its revenues are generated outside Canada. Bombardier's revenues for its fiscal year ended Jan. 31, 2000, totalled $13.6 billion Cdn. (R) Registered trademarks of Bombardier Inc. |
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