Bombardier sells CRJ jet program to Mitsubishi for $550M

AP

Print Article

FILE - In this Oct. 29, 2015, file photo Bombardier president and CEO Alain Bellemare speaks at a news conference in Montreal. Canadian aerospace company Bombardier has announced the sale of its regional jet program to Japan's Mitsubishi Heavy Industries Ltd. for $550 million. Bellemare said Tuesday, June 25, 2019, the sale signifies the completion of the transformation of its aerospace business. (Ryan Remiorz/The Canadian Press via AP, File)

MONTREAL (AP) — Canadian aerospace company Bombardier has announced the sale of its regional jet program to Japan's Mitsubishi Heavy Industries Ltd. for $550 million.

The company is seeking to exit the commercial plane market and focus on business jets and its large rail segment.

Bombardier chief executive Alain Bellemare said Tuesday the sale signifies the completion of the transformation of its aerospace business.

Mitsubishi will assume liabilities of about $200 million and acquire the maintenance and sales activities of the jet program, or CRJ Series aircraft.

Mitsubishi chief executive Seiji Izumisawa said the deal is an important step toward building strong global aviation capabilities.

Bombardier previously sold its C Series program to Airbus after it was driven to the brink of bankruptcy.

Print Article

Read More National & World News

Cellphones sought in Puerto Rico as political crisis deepens

AP

July 23, 2019 at 4:26 pm | SAN JUAN, Puerto Rico (AP) — A Puerto Rico judge issued search warrants for the cellphones of government officials involved in a crude online chat whose leak has set off a political crisis that threa...

Comments

Read More

US spars with key allies at UN over Mideast peace approach

AP

July 23, 2019 at 4:18 pm | UNITED NATIONS (AP) — The U.S. derided the viability of reaching "international consensus" on the Israeli-Palestinian conflict Tuesday, further distancing itself from the two-state solution preferred...

Comments

Read More

Why It’s So Hard To Predict How Much Funding 9/11 First Responders Need

AP

July 23, 2019 at 2:31 pm | The idea of getting cancer from searching through the rubble of Ground Zero after the 9/11 attacks — and then standing guard over it for months — didn’t occur to Kevin Zweigbaum. It did cross his...

Comments

Read More

Mexico finds 150 migrants in trailer without food, water

AP

July 23, 2019 at 3:03 pm | MEXICO CITY (AP) — Federal police in Mexico have found 150 migrants who had been kept in the freight compartment of a truck without food or water for days. The migrants included 66 minors and 36 ...

Comments

Read More

Contact Us

(608) 365-8811
149 State Street
Beloit, WI 53511

©2019 Beloit Daily News Terms of Use Privacy Policy
X