Bombardier selling Mexican wiring operation to French manufacturer Latecoere
Posted December 31, 2019 6:50 am.
MONTREAL — Bombardier Inc. has agreed to sell a Mexican operation that makes electrical wiring systems for its planes to Latecoere, a French company that supplies many of the world’s major aircraft manufacturers.
The companies say Latecoere will pay US$50 million to Bombardier and supply electrical wiring interconnection systems for the Montreal-based company’s Global, Challenger and Learjet aircraft under a long-term agreement.
Bombardier’s electrical wiring operations in Queretaro, Mexico, employ about 700 people.
The sale won’t affect the remainder of Bombardier’s Queretaro operations, where the company produces major structures for its aircraft.
Paul Sislian, Bombardier Aviation’s chief operating officer, says the sale is part of the company’s focus on streamlining its activities.
The transaction is expected to close in the first half of 2020.
This report by The Canadian Press was first published Dec. 31, 2019.
Companies in this story: (TSX:BBD.B)
The Canadian Press
