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Rail News: Passenger Rail

Bombardier files arbitration claim against DaimlerChrysler

Bombardier Inc. July 5 filed a request for arbitration against DaimlerChrysler AG with the International Chamber of Commerce in Paris, claiming $1 billion in connection with its acquisition of DaimlerChrysler Rail Systems GmbH (Adtranz).

Arbitration could take several years and its outcome, whether through an award by the arbitral tribunal or settlement, will result in a reduction of goodwill, said Bombardier in a prepared statement.

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More News from 7/9/2002