Tuesday, October 17, 2017

Bombardier Inc - BBD-b.t

Bombardier Inc - BBD-b.t is a global transportation company with 80 production and engineering sites in 26 countries, and a worldwide network of service centers that operate two industry-leading businesses; Aerospace and Rail transportation.

Everywhere people travel by land and in the air, a Bombardier product is ready to transport them.

On October 17, 2017 the media released News

The Globe and Mail reports in its Tuesday edition that Bombardier has struck an agreement to sell control of its marquee C Series airliner program to Europe's Airbus Group SE. The Globe's Nicolas Van Praet writes that the bet is that handing the keys to a global giant will ensure the Canadian plane maker's future in the face of relentless competition and punishingly high tariffs imposed by the United States. The C Series' development at a cost of $6-billion (U.S.) drove Bombardier to the brink of bankruptcy in 2015 before Quebec handed the company a lifeline by investing $1-billion (U.S.) in the plane. Quebec supports the transaction with Airbus, calling it the best solution to protect and create jobs in a sector vital to the province's economy. Bombardier backer, the Caisse pension fund, also supports the tie-up. Ottawa has offered a preliminary endorsement of the transaction, saying it would require review under federal investment law.
"[This deal] brings certainty to the future of the program," Bombardier chief executive officer Alain Bellemare said Monday after the announcement. The deal is an acknowledgment that the company could not go it alone in the passenger global airline business.