Bombardier signs definitive agreement with Spirit AeroSystems to sell Aerostructures Business:
1 November 2019: Bombardier has signed a definitive agreement to sell its aerostructures business to Spirit AeroSystems Holding, Inc. (Spirit), supporting Bombardier's strategic decision to focus on its two strong growth pillars, trains and business aircraft.
Spirit will take over Bombardier's aerostructures activities and aftermarket services operations in Belfast, UK; Casablanca, Morocco; and its aerostructures maintenance, repair and overhaul (MRO) facility in Dallas, US for a cash consideration of $500 million and the assumption of liabilities with a total carrying value in excess of $700 million, including government refundable advances and pension obligations.
After the transaction, Spirit will continue to supply structural aircraft components and spare parts to support the production and in-service fleet of Bombardier Aviation's Learjet, Challenger and Global families of aircraft.
"This transaction represents another strategic milestone in the reshaping of our portfolio to focus on our strong business aircraft and rail franchises," said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. "We are confident that Spirit's acquisition of these aerostructures assets is the best outcome for customers, employees and shareholders, and we are committed to ensuring a smooth and orderly transition."
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