Bombardier
Submitted by oly86 on September 23, 2011
- Category: Business
- Words: 403
- Pages: 2
- Views: 46
- Popularity Rank: 4458
Bombardier
ABB and DaimlerChrysler today announced that DaimlerChrysler has agreed to acquire ABB’s share of their 50-50 joint venture Adtranz, aiming to boost the global rail transportation leader by integrating it into the strategic portfolio of DaimlerChrysler.
Under the agreement, DaimlerChrysler will pay a cash compensation of US$ 472 million for ABB’s 50-percent share in Adtranz.
In a comment, DaimlerChrysler Board Member Eckhard Cordes, the Supervisory Board Chairman of Adtranz, said: "This is a clear signal that we intend to move Adtranz forward forcefully. By integrating Adtranz fully into our strategic framework, we expect gains both for Adtranz and for...
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