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Canada: Bombardier to sell aerostructures business to Spirit

By  |  October 31, 2019

Canada’s Bombardier announced on Thursday, October 31, it had agreed to sell its aerostructures business to Spirit AeroSystems for more than US$1 billion in cash and debt.

As part of the deal, Bombardier will sell two aerostructure facilities – the Belfast plant and another in Morocco – along with a smaller repair plant in Dallas.

The move is part of the Canadian company’s plan to shed its commercial aviation business to focus on its higher-margin business jets and rail divisions.

“This transaction represents another strategic milestone in the reshaping of our portfolio to focus on our strong business aircraft and rail franchises,” Bombardier CEO Alain Bellemare said in a statement. 

Analysts have said a deal would be strategic for Spirit, an aerospace components maker, as it diversifies its customer base away from Boeing.

Full Content: Reuters

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