March 16, 1996 |
Pioneering aviation firm Fokker, once a European byword for industrial expertise, collapsed Friday, ending 77 years of Dutch aircraft production and putting 5,600 people out of work in the biggest mass layoff in Dutch history. The maker of regional aircraft, whose founder supplied triplanes to Germany during World War I, announced at a somber news conference that it had lost a desperate struggle to find a buyer and declared bankruptcy for three core units.
February 7, 1996 |
Fokker, McDonnell Won't Confirm Talks: Representatives of the Dutch and U.S. aircraft makers would not comment on a Dutch newspaper report that the two were talking. The daily Volkskrant reported that Fokker received a delegation from St. Louis-based McDonnell last week. Fokker, which has sought protection from creditors for some of its subsidiaries, needs a new investor to provide it with cash to stay in business.
February 6, 1996 |
Bombardier Inc. said Monday it is in talks with Fokker, a decision that could lead to an offer for part or all of the Dutch aircraft maker. Fokker suspended payments to its creditors last month after its major shareholder, Daimler-Benz, withdrew its financial support. Daimler-Benz's decision forced Fokker to look for ways to stay in business. "We started discussions" with Fokker Monday, Bombardier spokesman Michel Lord said.
January 30, 1996 |
Samsung Corp., South Korea's largest industrial company, said Monday that it is considering buying part or all of Dutch aircraft maker Fokker, which is under court protection from its creditors. "We are very much interested in Fokker," Park Jong Hyun, a spokesman for Samsung Aerospace Co., said in Seoul. "But we have not decided anything on buying the company."
January 27, 1996 |
Beleaguered Dutch plane maker Fokker on Friday secured vital state aid to keep it in business for six weeks, and its administrators said they have not given up hope that the entire company can still be saved. The Dutch government granted Fokker interim credit of $153 million and brought forward the planned purchase of four Fokker jets worth $66 million.
January 23, 1996 |
German industrial conglomerate Daimler-Benz, disclosing an expected $4.05-billion loss for 1995, said Monday it can no longer afford to prop up its troubled Dutch aircraft unit Fokker. Daimler said after hacking off unprofitable businesses in an aggressive restructuring effort, the company was set to return to profit this year. "Profitability in all business sectors is the first goal of the company," Daimler Chairman Juergen Schrempp said in a statement.