Bombardier (Canada) has agreed to acquire DaimlerChrysler Rail Systems (Adtranz) subsidiary in Berlin for $725 million in cash.

The proceeds from the planned disposal of some of Adtranz's businesses, namely Fixed installations and Signalling, currently in the process of being sold to other parties, would reduce the net purchase price for Bombardier.

As an integrated transportation equipment manufacturer, Adtranz is present in major markets around the world with 22,000 employees, including 3,600 at Fixed installations and Signalling, and facilities in 19 countries on four continents.

Adtranz's revenues for 1999 totalled $5 billion Cdn ($3.4 billion US). Bombardier Transportation revenues for the fiscal year ended January 31, 2000 reached $3.4 billion Cdn ($2.3 billion US), and it currently employs 16,000 people and its .

Bombardier Inc., a diversified manufacturing and service company, is a world leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized 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% of its revenues are generated outside Canada. Bombardier's revenues for its fiscal year ended Jan. 31, 2000 totalled $13.6 billion Cdn ($9.1 billion US).