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. Last Updated: 07/27/2016

Russian Companies Bid For Bankrupt Fokker

COMBINED REPORTS


The bankrupt Dutch aircraft manufacturer Fokker NV said Friday that Russian aviation companies Tupolev and Yakovlev had offered about $240 million to buy parts of its failed operations.


"An amount of money has been offered, but we still have to discuss the conditions with them," said Leo Steijn, a spokesman for the receivers now running Fokker. "It doesn't just take money, but a good business plan which is mutually agreeable."


Fokker has confirmed receiving numerous offerings for pieces of the company, but has emphasized that all would have to be studied carefully before any deals were made.


Officials reached Friday at the Moscow offices of Yakovlev and Tupolev declined to comment on the report or said they doubted that the companies -- themselves in dire financial straits -- had so much money to invest.


"Too good to be true," said an official at Tupolev, who did not wish to be identified.


The spokesman for the State Committee of Defense Industries, Yury Chervakov, said Russia's aviation companies "could not even dream of any investments abroad."


But other committee sources, who did not want to be identified, confirmed that there had been negotiations regarding Fokker. They would not provide details.


An independent aviation consultant, Paul Duffy, said Russian companies could be interested in Fokker's computer and production facilities, as well as 50- to 100-seat passenger-planes sector, which is Yakovlev's field.


Some experts also said Yakovlev, once a major maker of warplanes, could be interested in Fokker's fighter production. Duffy said, however, that he doubted the Dutch government would agree to sell any military-related operations to the Russians.


Fokker's bourse-listed holding company and two aircraft assembly units went bankrupt March 15, costing 5,600 staff their jobs in the largest mass layoffs in Dutch corporate history.


Fokker's problems came to a head last August when it disclosed a record loss of 460 million guilders ($277.3 million), a loss brought on by sluggish demand, unfavorable exchange rates and maybe more importantly high production costs. ()