Bombardier has marketed its aerospace wiring organization in Mexico to French aerospace firm Latecoere for $45 million, closing a offer that experienced been in the will work for much more than one year.
Latecoere claimed on 16 February that it finally completed the acquisition of what had been Bombardier’s Electrical Wiring and Interconnection Programs (EWIS) business enterprise.
Centered in Querétaro, Mexico, EWIS will make electrical harnesses and sub-assemblies and generates yearly earnings of about $60 million, Latecoere states.
In December 2019, Bombardier disclosed its intention to promote EWIS to Latecoere. At that time, Bombardier supposed to divest the organization for $50 million and to near the offer in the initial 50 % of 2020.
Bombardier will proceed to get elements for its World-wide and Challenger small business jet’s from EWIS beneath a prolonged-phrase provide agreement with Latecoere, the French business states.
The acquisition will help Latecoere to “expand its purchaser portfolio” by supplying other aerospace companies this sort of as Airbus Canada, CRJ maker MHIRJ and Canadian aerostructures business Avcorp.
Bombardier’s world-wide headcount declines by about 500 staff with the divestiture. The Canadian corporation will continue to retain an aerostructures production footprint in Mexico, making structures like the Global 7500’s rear fuselage.
The deal marks another divestiture for Bombardier, which has marketed several belongings in new yrs in a bid to aim on designing and production organization jets.
