Re: FOKKER BANKRUPTCY?

From:         sandee@Think.COM (Daan Sandee)
Date:         23 Jan 1996 10:10:24 -0800
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In article <822361104snz@lofgren.demon.co.uk>, "Niels M. Sampath" <niels@lofgren
.demon.co.uk> writes:
|> In article <4e132t$o0d@news.bu.edu>
|>            tshepherd@med-med1.bu.edu "Thornton Shepherd" writes:
|> 
|> > [[[ cross-posted to s.a.a by RNA, m.t.a-i comoderator ]]]
|> > 
|> > I caught a very brief news flash on the BBC World Service this morning that
|> > mentioned a bankruptcy at Fokker Aircraft of the Netherlands.  This was a
|> > surprise to me because I had noticed a dramatic rise in orders for Fokker
|> > aircraft over the last few months.  I had also read about Daimler Benz' rec
ent
|> > pledges of support for its ailing subsidiary.  Does anyone know the real st
ory
|> 
|> Daimler-Benz has withdrawn and its up to the Dutch Govt. now.

Fokker last year made a loss of $600M on a production of $1.5B.  They have
plenty of orders, but they have been selling below cost.  DASA, who is
the majority owner, has been making up the losses, which contributed to
DASA's own deficit of $4B over 1995.
On Jan 22nd, DASA went to the Dutch Govt and asked for a one-time subsidy
of $1.5B.  The Dutch Govt, having already spent billions on Fokker in
recent years, refused.  Thereupon DASA stopped the support for Fokker,
and the company is going to be closed down (I understand the decision is
final on all sides).  Fokker has been building airplanes since 1911 or
thereabouts and has 7,000 employees left (there have been plenty of layoffs
already lately).

This from Dutch news.  Please excuse any errors I may have made in currency
conversions.

Daan Sandee                                           sandee@think.com
Burlington, MA