A merger between France’s Alstom – an employee seen here on Oct. 4, 2019 – and Bombardier Transportation will face intense regulatory scrutiny in Brussels.Bombardier Inc. is on the verge of a transformational deal to unload its train business to France’s Alstom SA as it looks to a vastly different future exclusively as a maker of private luxury jets.
Bombardier’s trains unit has historically acted as a generally dependable revenue generator to offset its more cyclical aviation business. More recently, however, BT has encountered major problems delivering on several big contracts, and it is either making no money or losing money on some of them, the company confirmed last week in its fourth-quarter earnings report.
The Globe is not identifying the two sources by name because they were not authorized to speak to the media about the transaction. A merger between France’s Alstom and BT will face intense regulatory scrutiny in Brussels, where European Union competition czar Margrethe Vestager is both feared and respected for her tough anti-trust position. A year ago, she blocked the planned merger between the train businesses of Alstom and Siemens.
Some 36,000 people worked for BT as of December, including 4,600 in Canada, according to the Bombardier website. The company’s main Canadian manufacturing sites are located in Thunder Bay and La Pocatière, Que.
globebusiness Definetly not money
globebusiness Ummm how much is this costing Canadian taxpayers?
globebusiness Follow the money.
globebusiness Good they can pay back some of the BILLIONS they owe Canadians! Corporate welfare failures!
globebusiness What does this do for the government's investment/bailout?
globebusiness Maybe see if Ottawa could use some new ones..... ones that work in the snow and cold!
perreaux globebusiness Isn't Alstom the company that built Ottawa LRT Trains?
globebusiness Alstom!? Manufacturers of the Ottawa LRT DISASTER? They couldn't build/maintain a covered wagon.
globebusiness Entertainment unit soon out to Bombardier family. Aircraft unit sold. Train unit sold. What’s left?
globebusiness Good riddance. Substandard Quebec garbage.
globebusiness Ah finally we'll get a train that works. On another note when are they filing chtr 11?
globebusiness Is there anything left of this company?
globebusiness We get all our bailout money back then