Airplanes in production sit on the factory floor as Canadian business jet maker Bombardier holds an investor day at its plant in Mississauga, Ont. on May 1.is eyeing a potential takeover of factories in Northern Ireland belonging to Spirit AeroSystems Holdings Inc. as it moves to safeguard the stability of one of its key suppliers.
Bombardier used to own the storied aircraft manufacturing business in Belfast, commonly known as Shorts, but sold it to Spirit as part of a US$1.2-billion deal in 2020. At the time, Bombardier was in the midst of a wider sell-off of assets in a bid to rebuild its finances as it refocused its business model on private aircraft.
Bombardier will need its own long-term solution and will be keeping close tabs on how the Spirit sale plays out. The Canadian plane maker doesn’t necessarily want to leave the Belfast fuselage work in the hands of Boeing, a company with which it has had a thorny relationship in recent years. The two manufacturers have locked horns on several occasions, most recently over the Canadian government’s decision to award a sole-source contract to Boeing for military surveillance planes.
Spirit is one of Northern Ireland’s biggest manufacturers and employs thousands of workers across multiple sites. The Unite union, which represents a majority of those employees, has voiced concerns that a break-up of Spirit operations in the country would threaten jobs.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »