Rail

Bombardier to file claim against DaimlerChrysler

Posted on February 14, 2002

Bombardier announced Thursday it was seeking $860 million in damages from DaimlerChrysler AG in a dispute over Bombardier's purchase of railcar maker Adtranz, reported The Associated Press. Bombardier bought Adtranz for $725 million in 2000, and took over the company in 2001. After Bombardier went over Adtranz's books, a dispute arose over the correct pricing of the deal, said the AP. A statement from Bombardier said the difference resulted from the application of U.S. accounting rules in assessing the company's worth, and from costs required to complete contracts with third parties. DaimlerChrysler said it would fight the claim, reported the AP.

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