Feel free to repost the text, as some who can read this cannot read
the binaries. (hint, hint)

-- frosty
============

Hint Taken:

Date August 27, 2003
To Our Media Friends
From Dave Thompson, Director Global Communications
Subject Sale of Bombardier Recreational Products
As you may have heard early this morning, Bombardier Inc. today
announced that Bombardier Inc. has reached an agreement for the
purchase of Bombardier Recreational Products by a corporation formed
by the Bombardier family, Bain Capital and the Caisse de dépôt et
placement du Québec for $1.225 billion Cdn. ($874.1 million US). The
sale is expected to close completely in mid-fall.
As you’ll read in the special edition of The Real Deal and the
attached press releases, we believe this is the best possible outcome.
Nobody knows how to design and build recreational products better than
the Bombardier family, and the family is teamed with two firms who
have shown their passion for recreational products and investing in
this business – Bain Capital and the Caisse de dépôt et placement du
Québec.
We’re pleased that the bidding process is over and that the spotlight
can be turned back onto what we do best: our outstanding Evinrude,
Johnson and Sea-Doo sport boat product lineups.
And as we’ve done since April 3, we’ll continue to keep you updated on
the progress on a regular basis until the final terms and conditions
of the sale are made public. The Real Deal will not be published at
it’s normal time tomorrow because of today’s announcement, but you can
expect next week’s edition on Thursday, Sept. 3 at the normal time of
3:00 p.m. CDT to give you the latest news. However, if there is any
breaking news, we will deliver it to you immediately in a special
edition.
In the meantime I welcome your calls and questions regarding the sale.
I can be reached at 262-884-5399 (or 262-880-1733 after 6 p.m.).
r
MEMO
The Weekly Must-Read For Reliable Information on Bombardier
Recreational Products
Wednesday, August 27, 2003
To Friends of Bombardier Boats and Outboard Engines Total pages
including this one – 6
From Roch Lambert Title Vice President and General Manager
Please route to: (init)
G.M.
Service
Sales
Parts
Bulletin Board
August 27, 2003 Page 3 r
Boats and Outboard Engines Division
10101 Science Drive
Sturtevant, WI 53177
http://www.bombardier.com
THE DEAL IS DONE!!
August 27, 2003
Greetings again from New Orleans, Louisiana!
IT’S THE BOMBARDIER FAMILY AND THEIR ASSOCIATES
Yes, you read it right! Early this morning, Bombardier CEO Paul
Tellier announced that a final bidder for Bombardier Recreational
Products had been identified.
I’m very pleased to announce that the winning offer comes from a group
of investors including the Bombardier family, Bain Capital and the
Caisse de dépôt et placement du Québec. Bain Capital is a respected
investment banking firm based in Boston, and Caisse de dépôt et
placement du Québec is a financial institution that manages funds for
public and private pension and insurance plans.
The offer is for US $874.1 million (Cdn $1.225 billion). It is
anticipated that the transaction will be closed by mid-fall 2003.
It’s been a long summer waiting for this announcement, and we
appreciate your patience. The situation affected us here at Bombardier
in that we were as anxious for a conclusion.
As you read the attached press releases, I want you all to know that
this is the best possible outcome of our sale. Nobody knows how to
design and build recreational products better than the Bombardier
family, a group of people who practically invented the category. And
the family is teamed with Bain Capital and the Caisse de dépôt et
placement du Québec—two firms who have shown their passion for
recreational products and investing in this business.
As we prepare to move forward from this announcement, you’ll see a
company that will continue to gain momentum and build the highest
quality motorized recreational products anywhere in the world. We’re
healthy, we’re motivated, and we’re ready to become a more powerful
force in the industry than ever before.
The Real Deal will not be published at it’s normal time tomorrow
because of today’s announcement. But you can expect next week’s issue
on Thursday, Sept. 3 at its normal time of 3:00 p.m. CDT to give you
the latest news. However, if there is any breaking news, we will
deliver it to you immediately in a special edition.
All the best,
Roch Lambert
Agreement for acquisition of Bombardier Recreational Products
MONTRÉAL, Aug. 27 /CNW Telbec/ - A group of investors comprised of the
Bombardier family, Bain Capital and the Caisse de dépôt et placement
du Québec confirms that the $1.225-billion Cdn. offer of a corporation
formed by them to purchase Bombardier Recreational Products has been
accepted by Bombardier Inc.
Bain Capital will hold 50% of the new corporation, the Bombardier
family 35% and the Caisse de dépôt et placement du Québec 15%. Mr.
Laurent Beaudoin, spokesperson for the Bombardier family, said that he
was proud to have attracted such high-calibre investors to form the
acquisition group.
"We are very happy to have the opportunity to continue to be
associated with this heritage asset that was at the foundation of the
development of one of Canada's largest companies," said Mr. Beaudoin.
"With the help of our 7,600 employees, we intend to reinforce our
leadership in our current business sectors, as well as develop new
market niches." Mr. Beaudoin stressed the high quality employee
relations at all levels at Bombardier Recreational Products.
"Bombardier Recreational Products is known for manufacturing
innovative, exciting and quality products, and has an extensive
catalog of strong brands that resonates extremely well with
consumers," said Matt Levin, Managing Director at Bain Capital. "We
look forward to building on Bombardier Recreational Products'
successful 60-year history and to the company's long term strategic
growth potential as an independent business."
"Our analysis of the new company's potential was conclusive and
consistent with that done by the private investors involved in the
transaction. Moreover, the involvement of a major American private
equity firm, Bain Capital, and that of the Bombardier family are
important factors in the company's success," stated Henri-Paul
Rousseau, Chairman and Chief Executive Officer of the Caisse de dépôt
et placement du Québec. Mr. Rousseau also said that the investment was
in line with the Caisse's role as a fund manager holding minority
interests.
August 27, 2003 Page 4
August 27, 2003 Page 5
Bombardier Recreational Products designs, develops, builds,
distributes and markets Sea-Doo. watercraft and sport boats, Ski-Doo.
and Lynx. snowmobiles, Johnson. and Evinrude. outboard engines,
Evinrude direct injection and Evinrude E-TEC. technologies, Bombardier
™ ATVs, Rotax ™ engines and karts, as well as utility vehicles.
Bain Capital, which has more than $23 billion Cdn. in assets under
management, has strong experience in a variety of industries and with
"carve- out" transactions in which non-core businesses or assets of
corporations are purchased by private investors. With a 19-year
investment history, the firm has made a number of investments in
retail and consumer products companies, including Shoppers Drug Mart,
Sealy, Domino's Pizza, and Staples.
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds for public and private pension and insurance plans.
The Caisse strives to obtain an optimal financial return for its
depositors and clients. Through CDP Capital, the leading fund manager
in Canada with almost $130 billion Cdn. of assets under management, it
invests in the main liquid markets as well as in private equity and
real estate.
Completion of this transaction is subject to certain purchase price
adjustments, execution of definitive acquisition and financing
documentation and to the approval of all required governmental
authorities and to other consents and other usual conditions. It is
expected that the transaction will be closed by mid-fall 2003.
The investor group was advised by Merrill Lynch, BMO Nesbitt Burns and
CIBC World Markets.
.., ™ Trademarks of Bombardier Inc. or its subsidiaries.
-30-
For further information: Bombardier family
Luc Beauregard
(514) 843-7171
Cell phone: (514) 942-5810
Caisse de dépôt et placement du Québec
Louis Boivin
(514) 847-2384
Bain Capital
Joe LoBello
(212) 780-1900

===================================

PRESS RELEASE
BOMBARDIER ANNOUNCES SIGNATURE OF AGREEMENT
FOR SALE OF RECREATIONAL PRODUCTS BUSINESS
Montréal, Aug. 27, 2003 - Bombardier Inc. announced today that it has
reached an
agreement in principle for the sale of its recreational products
business for an
aggregate purchase price of $1.225 billion Cdn. This agreement was
entered into by a
corporation formed by Bain Capital, members of the Bombardier family
and the
Caisse de dépôt et placement du Québec.
This transaction all but completes Bombardier’s action plan presented
on
April 3, 2003, a plan designed to restore the Corporation’s balance
sheet and liquidity
profile and focus on the aerospace and transportation businesses.
“Earlier this year, we completed a successful equity issue and
announced the
divestures of our Defence Services unit, Belfast City Airport and
Bombardier Capital’s
business aircraft portfolio,” said Paul M. Tellier, President and
Chief Executive
Officer. “Once fully completed, this plan will have generated in
excess of
$2.5 billion Cdn, well over the initial target of $2 billion Cdn.”
Bombardier’s Board approved the agreement following a recommendation
by the
independent committee chaired by L. Denis Desautels and created for
the purpose of
supervising the sale process for the recreational products business
and reviewing the
related party transaction.
“As soon as our action plan was announced, members of the Bombardier
family
expressed an interest in participating in the process to ensure the
stability and
continuity of this heritage asset. As a party to the group of buyers,
they are meeting
this goal and we are pleased we have reached an agreement to sell the
business as a
full entity, at a fair price and in a timely and efficient manner that
secures full value for
all shareholders,” he continued.
“We took appropriate steps to make certain that the rights of all
shareholders were
fully protected through a process that involved the highest standards
of governance,”
concluded Tellier.
Bombardier
2
The Board received favourable fairness opinions from its own financial
advisor, UBS,
and from Morgan Stanley, financial advisor to the independent
committee. Directors
of Bombardier who are members of the Bombardier family abstained from
participating in Board meetings in which the transaction was
considered and did not
vote on the transaction.
Completion of this transaction is subject to certain purchase price
adjustments,
execution of definitive acquisition and financing documentation and to
the approval of
all required governmental authorities and to other consents and other
usual conditions.
It is expected that the transaction will be closed by mid-fall 2003.
Bombardier Recreational Products designs, develops, builds,
distributes and markets
Sea-Doo. watercraft and sport boats, Ski-Doo. and Lynx. snowmobiles,
Johnson.
and Evinrude. outboard engines, Evinrude direct injection and Evinrude
E-TEC™
technologies, Bombardier™ ATVs, Rotax™ engines and karts, as well as
utility
vehicles.
Bombardier Inc., a diversified manufacturing and services company, is
a worldleading
manufacturer of business jets, regional aircraft, rail transportation
equipment
and motorized recreational products. It also provides financial
services and asset
management in business areas aligned with its core expertise.
Headquartered in
Montréal, Canada, the Corporation has a workforce of some 75,000
people and
manufacturing facilities in 25 countries throughout the Americas,
Europe and Asia-
Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at
$23.7 billion Cdn.
Bombardier shares are traded on the Toronto, Brussels and Frankfurt
stock exchanges
(BBD, BOM and BBDd.F).
..,TM Trademarks of Bombardier Inc. or its subsidiaries.
For information Dominique Dionne
Vice President, Public Relations and Communication
(514) 861-9481
www.bombardier.com

On Thu, 28 Aug 2003 21:16:29 -0400, Wayne.B
wrote:

August 27, 2003 Page 5
Bombardier Recreational Products designs, develops, builds,
distributes and markets Sea-Doo. watercraft and sport boats, Ski-Doo.
and Lynx. snowmobiles, Johnson. and Evinrude. outboard engines,
Evinrude direct injection and Evinrude E-TEC. technologies, Bombardier
™ ATVs, Rotax ™ engines and karts, as well as utility vehicles.

I wonder if this selling off recreation isn't related to trying to
save Bombadier from the Ficht/Evinrude/Johnson/OMC disaster?

News sure has been quiet, lately, on the old OMC engines......



Larry W4CSC

Isn't it becoming more practical by the day to make
Iraq's desert the new World Nuclear Waste Disposal Site?

Larry,

I have a Speedster with the Merc engine and do my own maintenance. I have
had the boat for 3 years and have never done anything with the engine or
twin water boxes, they "appear" to be self draining, and the winterization
procedure doesn't mention anything about pouring antifreeze down the hoses.
And this is with the boat sitting in the winter in sub-zero temps.

Are we trolling or what.....

"Larry W4CSC" wrote in message
...
For the record, to save the jetboat side of SeaDooDoo's business,
they're using the MUCH more reliable and MUCH less gashog Mercury
Sport Jets, now.

Unfortunately, noone at DooDoo was smart enough to use the ONE HANDLED
THROTTLE/SHIFTER and they just COULDN'T bring themselves to let
Mercury's self-draining exhaust system, that requires no
winterization, be. In it's place they have a PWC waterbox to keep the
dealers happy winterizing jetboats.



On Wed, 27 Aug 2003 22:39:47 -0500, "Greg O"
wrote:


"Larry W4CSC" wrote in message
...
Looks like SeaDoo is toast, doesn't it?

Maybe they can get rid of those queer, crappy, Austrian 2-strokers
with the rotating valve nonsense this way......



Why would you think that??
The original owners of the company are back . They built the first Seadoo
in
the late '60's. Why would they stop now??
As far as the engines, they have used Rotax engines since the beginning,
again, why stop now??
Greg




Larry W4CSC

Isn't it becoming more practical by the day to make
Iraq's desert the new World Nuclear Waste Disposal Site?

phil wrote:
Larry,

I have a Speedster with the Merc engine and do my own maintenance. I have
had the boat for 3 years and have never done anything with the engine or
twin water boxes, they "appear" to be self draining, and the winterization
procedure doesn't mention anything about pouring antifreeze down the hoses.
And this is with the boat sitting in the winter in sub-zero temps.

Are we trolling or what.....

"Larry W4CSC" wrote in message
...
For the record, to save the jetboat side of SeaDooDoo's business,
they're using the MUCH more reliable and MUCH less gashog Mercury
Sport Jets, now.

Unfortunately, noone at DooDoo was smart enough to use the ONE HANDLED
THROTTLE/SHIFTER and they just COULDN'T bring themselves to let
Mercury's self-draining exhaust system, that requires no
winterization, be. In it's place they have a PWC waterbox to keep the
dealers happy winterizing jetboats.



On Wed, 27 Aug 2003 22:39:47 -0500, "Greg O"
wrote:


"Larry W4CSC" wrote in message
...
Looks like SeaDoo is toast, doesn't it?

Maybe they can get rid of those queer, crappy, Austrian 2-strokers
with the rotating valve nonsense this way......




Larry is trolling. He's a high-school dropout who hid out in the Navy
for a while and now makes a living fixing church organs. What he
actually knows aboutg boat design and construction would fit on one side
of one half of a piece of toilet paper.



--
* * *
email sent to will *never* get to me.

Harry's not dead yet!!!!!


"Harry Krause" wrote in message
...
phil wrote:
Larry,

I have a Speedster with the Merc engine and do my own maintenance. I
have
had the boat for 3 years and have never done anything with the engine or
twin water boxes, they "appear" to be self draining, and the
winterization
procedure doesn't mention anything about pouring antifreeze down the
hoses.
And this is with the boat sitting in the winter in sub-zero temps.

Are we trolling or what.....

"Larry W4CSC" wrote in message
...
For the record, to save the jetboat side of SeaDooDoo's business,
they're using the MUCH more reliable and MUCH less gashog Mercury
Sport Jets, now.

Unfortunately, noone at DooDoo was smart enough to use the ONE HANDLED
THROTTLE/SHIFTER and they just COULDN'T bring themselves to let
Mercury's self-draining exhaust system, that requires no
winterization, be. In it's place they have a PWC waterbox to keep the
dealers happy winterizing jetboats.



On Wed, 27 Aug 2003 22:39:47 -0500, "Greg O"
wrote:


"Larry W4CSC" wrote in message
...
Looks like SeaDoo is toast, doesn't it?

Maybe they can get rid of those queer, crappy, Austrian 2-strokers
with the rotating valve nonsense this way......




Larry is trolling. He's a high-school dropout who hid out in the Navy
for a while and now makes a living fixing church organs. What he
actually knows aboutg boat design and construction would fit on one side
of one half of a piece of toilet paper.



--
* * *
email sent to will *never* get to me.

Nice!

"Harry Krause"
Larry is trolling. He's a high-school dropout who hid out in the Navy
for a while and now makes a living fixing church organs. What he
actually knows aboutg boat design and construction would fit on one side
of one half of a piece of toilet paper.