Dominion Bridge Corporation - Company Update.MONTREAL--(BUSINESS WIRE)--June 26, 1998-- Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. In 1949 India became a republic within the Commonwealth, and the use of the term dominion has since been largely abandoned because it is thought to imply subordination. Now these states are simply referred to as members of the Commonwealth. Bridge Corp(NASDAQ:DBCO) (VSE:DMO DMO - Data Management Office/r DMO - Database Marketing Operations DMO - Debt Management Office (Bank of England) DMO - Dedicated Mode of Operation DMO - Defence Materiel Organisation (Australia) DMO - Defense MilPay Office (US Department of Defense) DMO - Defense Mobilization Order DMO - Delocalized Molecular Orbital DMO - Dental Management Organization DMO - Department of Microwaves and Optics DMO - Destination Management Organization.U.) Dominion Bridge Corporation responded today to the unexpected announcement that ITEQ Inc. was not going to complete its previously announced agreement to acquire the Dominion Bridge position in MDC Ltd. of Australia. The Chairman of Dominion Bridge Corporation, Mr. Allen Gerrard stated that "as the ITEQ press release indicated, the failure of ITEQ to complete this transaction was the direct result of ITEQ`s own financing issues and was not a result of the condition of the operations of MDC, which remains strong." As a result of this situation, the Company has chosen to resume negotiations with other parties who had previously expressed an interest in the Company's position in MDC. Mr. Gerrard also stated that "the Management of Dominion Bridge Corporation remains committed to the complete turnaround of the North American operation of Dominion Bridge. Dominion Bridge,established in 1879, is active in the international engineering and infrastructure markets. Dominion Bridge Corporation`s subsidiaries are Dominion Bridge, Inc., Steen Becker, Inc., Davie Industries and McConnell Dowell Corporation of Australia.
CONTACT: Dominion Bridge Corporation
Derek Tennant, 416/ 340-8460
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