Bombardier Signs Long-Term Framework Agreement to Supply Additional High-Speed Trains and Establish Rail Equipment Maintenance Center in China.MONTREAL -- Bombardier and the China Ministry of Railways (MOR MOR abbr. middle-of-the-road MOR adj abbr (MUS) (= middle-of-the-road) → para el gran público MOR adj abbr (Mus) (= ) signed today a long-term strategic cooperation framework agreement related to the purchase by MOR of additional high-speed electric multiple unit trainsets from Bombardier and its joint venture Bombardier Sifang Power (Qingdao) Transportation Ltd. (BSP BSP Bromsulphalein, a dye used in the study of liver function. See also sulfobromophthalein clearance test. ). The agreement also covers the creation of a maintenance center dedicated to 200 km/h electric multiple unit trainsets. This center, with a 250-trainset maintenance capacity, is to be established in Guangzhou in 2007. Final agreement is expected to be completed within the next weeks. Through this 20-year agreement, Bombardier will supply the design and equipment for the center. The MOR will supply land and the building. Bombardier will also supply spare parts, maintenance management services, technical support and training of personnel. Laurent Beaudoin, Bombardier Chairman of the Board and Chief Executive Officer, accompanied by Bombardier Transportation President, Andre Navarri, and Bombardier Chief Country Representative in China, Jianwei Zhang, signed the agreement with China Ministry of Railways' Vice Minister Hu Yadong, in the presence of leaders from several departments. During the signing ceremony, Andre Navarri commented: "This agreement is another testimony of Bombardier's long-standing commitment to the Chinese market. Our aim has always been to be a full-fledged partner and contributor to the development of the railway network in China. We want to support this development not only in supplying products, but also in providing value-added services and know-how that will ensure long-term efficiency and success to the operator." Vice Minister Hu Yadong responded that: "The history of friendly cooperation between MOR and Bombardier goes back many years, and this partnership has proven meaningful to both parties. It is in this same spirit that we look forward to this future achievement." Bombardier participates in three joint ventures in China. The first one, Changchun Bombardier Railway Vehicles Co. Ltd. (CBRC CBRC China Banking Regulatory Commission CBRC Cutaneous Biology Research Center CBRC Canadian Business Resource Centre CBRC Copenhagen Brain Research Center CBRC Colorado Business Resource Center CBRC Combat Brigade Refresher Course ), is dedicated to the production of metro vehicles. The second one, Bombardier Sifang Power (Qingdao) Transportation Ltd., manufactures intercity passenger coaches for the Chinese Ministry of Railways Chinese Ministry of Railways is a member of the State Council of the People's Republic of China. The ministry is in charge of the operations of China Railways. Current minister is Liu Zhijun. . The other joint venture, Bombardier - CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. Propulsion Systems Co. Ltd. (BCP BCP Best Current Practice(s) BCP Business Continuity Planning BCP Business Continuity Plan BCP Book of Common Prayer BCP Banco Comercial Português BCP Bureau of Consumer Protection (US Federal Trade Commission) ) - is involved in the production, marketing and maintenance of propulsion components for rail vehicles. Bombardier's longstanding business relationship with China began 50 years ago. Including its joint ventures, Bombardier currently employs 1,400 people in China. In addition to its rail transportation operations, Bombardier is the number one supplier to the Chinese regional aircraft market with an installed base of 31 aircrafts operated by six airlines. It is also the top-ranked manufacturer of business aircraft in the country. About Bombardier 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, 2005, were $15.8 billion US and its shares are traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (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. ). News and information are available at www.bombardier.com. BOMBARDIER TRANSPORTATION (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BBD.MV.A) (TSX:BBD.SV.B) |
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