‘Major announcements’ to accompany Bombardier gain news Thursday — minister
Amid suggestions that Quebec aerospace hulk Bombardier might be staid to announce a sale of a rail division, Quebec Economy Minister Pierre Fitzgibbon was tight-lipped Wednesday about what’s in store.
“I know all that’s going to happen, though I’m not during palliate to speak about it,” Fitzgibbon told reporters. Bombardier’s house is meeting today, and a apportion pronounced he can’t reveal anything forward of Thursday’s announcement. The association will recover a financial formula for 2019 after 6 a.m. ET Thursday and reason a discussion call during 8 a.m. ET.
He would not residence media reports from Reuters and BFM, a radio hire in France, that rail association Alstom is scheming an offer to buy Bombardier’s rail division. The Caisse de dépôt et placement, Quebec’s grant account manager, that owns 30 per cent of a rail division, would be paid in Alstom shares, according to those reports.
That latest news follows months of reports that Bombardier has been in talks with several buyers to sell a division, that has been tormented by delays and problems with orders, in an bid to giveaway adult income to condense a large $9-billion US debt.
Bombardier employs about 400 workers making trains during its factory in La Pocatière, in a Lower Saint Lawrence segment northeast of Quebec City. Another 13,000 people work on Bombardier’s several aerospace projects in a Montreal area, according to a CSN and AIMTA unions.
When asked if jobs would be confirmed in Quebec, Fitzgibbon pronounced he was “confident that Quebecers will be happy tomorrow morning.”
Business jet division
The rail multiplication is not a usually partial of Bombardier’s timorous empire reported to be adult for grabs.
According to a Wall Street Journal, a American company Textron is meddlesome in shopping Bombardier’s business jet division, makers of a Global and Challenger lines.
As well, Bombardier pronounced in Jan that it was “reassessing a ongoing participation” in a partnership with Airbus to make a A220, before famous as a C Series.
Despite a Quebec government’s $1.3 billion investment in the C Series in 2016, sales of a planes were primarily slow, heading Bombardier to sell a determining interest of a C Series module to Airbus in 2018 for $1.
While A220 orders have given started rolling in, Bombardier would need to inject some-more income into a module to ramp adult production.
Premier François Legault has ruled out investing some-more supervision income in the A220 program, though Fitzgibbon said that he wants to strengthen Quebec’s investment in a plane.
Article source: https://www.cbc.ca/news/canada/montreal/major-announcements-to-accompany-bombardier-earnings-report-thursday-minister-1.5461294?cmp=rss