AnsaldoSTS - Honolulu Rail Transit Project

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A Joint Venture betweenAnsaldo STS S.p.A. and AnsaldoBreda S.p.A.,Finmeccanica CompaniesAugust 17, 2011Mr. Kenneth Toru Hamayasu, P.E.Interim Executive DirectorHonolulu Authority for Rapid TransportationCity and County of HonoluluAlii Place, Suite 17001099 Alakea StreetHonolulu, HI 96813Re:Honolulu High-Capacity Transit Corridor ProjectCore Systems Design-Build-Operate-Maintain ContractHRT8/11-429799Dear Mr. Hamayasu,Thank you for your August 16, 2011 letter. Ansaldo Honolulu JV (“Ansaldo”) submittedthe documents identified in Section 7.1 of the Instructions to Priority-Listed Offerors andAddendum 41 on April 11, 2011. If you would like us to resubmit those materials, please let meknow.This letter will also serve as my confirmation, on behalf of Ansaldo, that there are nomaterial changes to Ansaldo’s financial capacity since its response to Request for Proposals(RFP) Part 1. Please let me know if I can provide you with any additional information.Ansaldo is proud and honored by this selection and will work tirelessly to ensure thepeople of Oahu receive a reliable system for the best value.Very truly yours,737 Bishop Street, Suite 2900Honolulu, HI 96813Phone +1 (808) 356-54705470Enrico FontanaAuthorized Representativewww.ansaldohonolulu.com.comDirection and coordination of Finmeccanica S.p.A.
I-IAflYHONOLUL.U AUTHORITY tar RAPID TRANSPORTATIONN REPLY REFER TO:HRT10/11-436627Kenneth Toru Hamayasu, P.E.INTERIM EXECUTIVE DIRECTOR AND CEOOctober 5, 2011Mr. Enrico FontanaAnsaldo Honolulu JV737 Bishop Street, Suite 2900Honolulu, Hawaii 96813Dear Mr. Fontana:BOARD OF DIRECTORSCarrie KS. Okinaga, Esq.CHAIRIvan M. Lui’Kwan, Esg.ViCE CHAIRRobert BundaWilliam ‘Buzr HongDonald G. HomerKeslie W. K. HuiDamien T. K. KimGlenn M. Okimoto, Ph.D.David K. TanoueWayne V. VoshiokaThank you for your letter of August 17. 2011, which States there are no material changes in the financialCapacity of the Ansaldo Honolulu iV (the “Joint Venture”). Thank you as Well for your September 8, 2011,presentation to the HART Board of Directors Finance and Project Oversight Committees on background andfinancial capacity.According to the information provided in that presentation, the overall financial strength of the Joint Venturehas increased since financial information was provided in Part 1 of the Core Systems contract procurement.However, there has been a pronounced decline in the equity position and an increase in the gross debtlevels of the Ansaldo Breda partner in the Joint Venture from year end 2009 though June 30, 2011.Additionally, your CEO of Finmeccanica has indicated in the media that the future of Ansaldo Breda is underreview by the parent company. Consequently, the current financial status of Ansaldo Breda is of concern toHART.Mr. Luigi Calabria, Group Finance Director for Finmeccanica, stated at the September 8, 2011, presentationthat Finmeccanica, as the parent company, would fully support the obligations of its wholly-ownedsubsidiary, Ansaldo Breda. Your slide presentation (slide #25) states clearly “this means that contractobligations wiH be undertaken by Ansaldo STS, Ansaldo Breda, backed by Finmeccanica”. The presentationalso emphasized (slide #24) a statement from Finmeccanica reaffirming ‘the company’s full commitment tothe Honolulu rail project’.Given the concerns about Ansaldo Breda and the representations of the parent company, we respectfullyrequest a formal commitment in writing from Finmeccanica that guarantees the obligations of the AnsaldoHonolulu JV under the Core Systems contract.Sincerely,TORU KAMAYASUInterim Executive Director and CEOcc:Mr. Lorenzo Reffreger, Vice PresidentSales and MarketingCITY AND COUNTY OF HONOLULU, Alü Place, Suite 1700, 1099 Alakea Street. Honolulu, Hawaii 96813Phone: (808)7686159 Fax: (808)768-5110 w.honoIuIutransit.org
Page 1 and 2: HAriTHONOLULU AUTHORITY '., RAPID T
Page 3 and 4: Mr. Homer asked whether there is a
Page 5 and 6: Mr. Hong asked about the situation
Page 7 and 8: [ATTACHMENT A]
Page 9 and 10: Ansaldo Honolulu JV: local commitme
Page 11 and 12: Ansaldo Honolulu JV: a general part
Page 13 and 14: AnsaldoSTS USA: structureUSA, Inc.G
Page 15: Ansaldobreda - Vehicles from A to Z
Page 18 and 19: Ansaldobreda: an international play
Page 20 and 21: AnsaldoSTS and Ansaldobreda: active
Page 22 and 23: AnsaldoSTS: a public company truste
Page 24 and 25: Ansaldo STS appeal almost highest i
Page 28 and 29: Contract structured to engage visib
Page 30 and 31: Contract strongly backed by bondBon
Page 32 and 33: Finmeccanica financial capacity: Cr
Page 36 and 37: Background and Financial CapacityAn
Page 38 and 39: Answers to HART QuestionsFinancial
Page 40 and 41: Answers to HART QuestionsFinancial
Page 42 and 43: Answers to HART QuestionsQuestion #
Page 44 and 45: We are fully ready to immediately g
Page 46 and 47: Finmeccanica North America1625 I St
Page 51: MINUTES OF THE BOARD OF DIRECTORS M
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AnsaldoSTS - Honolulu Rail Transit Project

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