Fokker rescue talks collapse
Wednesday 28 February 1996
The Dutch government is expected to extend Fokker's financial lifeline while talks with other potential buyers continue, but South Korea's Samsung is now seen as the only serious contender.
Bombardier, owner of Belfast's Shorts Brothers, a major supplier to Fokker, was seen as the most likely buyer of Fokker's assets and the collapse of talks is a serious blow to the 7,000-strong workforce.
About 800 jobs at Shorts would also be under threat if Fokker closes, but Bombardier said the Dutch company's huge debts meant a takeover was now out of the question.
Hans Wijers, the Dutch economics minister, said yesterday that the government was likely to provide bridging credit for another two weeks.
Last month, after controlling shareholder Daimler-Benz cut off funds to Fokker, the Dutch government gave Fokker 365 million guilders (pounds 150m) to tide the company over for four weeks. "The next few days will be decisive for the future of Fokker," Mr Wijers said.
Dutch media reported that the Bombardier talks had stalled over the amount of money the Dutch government was being asked to contribute to a rescue. But Bombardier said its decision had nothing to do with support from the Dutch government. "We didn't ask for any support, it wasn't part of our evaluation and the government didn't propose anything," a spokesman said.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Greece debt crisis explained: A history of just how the country landed itself in such a mess
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Greek debt crisis: Yanis Varoufakis's funniest (and most memorable) quotes
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
Greece debt crisis explained: A history of just how the country landed itself in such a mess
German conservatives are destroying Europe with austerity, says economist Thomas Piketty
Man dies instantly after shooting firework from top of his head
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
iJobs Money & Business
£40000 - £95000 per annum: Recruitment Genius: This is an exciting opportunity...
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...