The Canadians, with a workforce of some 36,000, retain their profitable Learjet, Challenger and Global Express business jets activity. Last week, Bombardier said it would sell off to Airbus and the Quebec government -where the firm has some 14,000 staff and supports around another 40,000 jobs-its remaining 33.58 percent stake in the programme.īombardier also recently announced it was selling off its aerostructures business to Spirit AeroSystems of the US for more than $1 billion in cash and debt.
In 2018, it had sold control of the CSeries medium-haul jet programme to Airbus which renamed it the A220. Last year, burdened by a debt pile of some $9 billion-most of it long-term-Canada's top manufacturer agreed to sell off its regional jet programme to Japan's Mitsubishi Heavy Industries for $750 million.īombardier owns the Crespin (site in northern France, Europe's largest railway factory employing some 2,000 people Heavily indebted Bombardier, which started out making snowmobiles 80 years ago, embarked in 2015 on a major restructuring and said in January it was planning a range of divestments. The acquisition stood to boost Alstom's presence in markets where Bombardier is strong-notably Germany, Britain, North America-and also in China where the Canadian company's position is "unique", he said.Īnalysts said the French company hopes to add scale in a sector where China's state-owned CRCC is the world's largest rolling stock manufacturer.Īlstom's move comes a year after the European Commission blocked an attempt at a mega-merger of its rail activities with those of Germany's Siemens, which would have created a European rail champion.īerlin-based Bombardier Transport last year posted sales of $8.3 billion, ending 2019 with $35.8 billion of business on its order books.Īlstom's 2018-2019 sales came in at $8.1 billion and the firm had outstanding orders of $43 billion at the end of 2018. "There is no idea of restructuring or threats to jobs, but rather the opposite," he later told journalists.
"This acquisition will improve our global reach and our ability to respond to the ever-increasing need for sustainable mobility," said CEO Henri Poupart-Lafarge. The Quebec pension firm Caisse de Depot, which owns 32.5 percent in Bombardier Transportation, will become Alstom's biggest single shareholder on completion with around 18 percent in the French company.Īlstom said it planned to move its Americas headquarters to Montreal. Alstom will pay up to 6.2 billion euros ($6.8 billion) in a mix of cash and shares, according to a memorandum of understanding between the firms.
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