Bombardier to Buy Assets of Mitsubishi Heavy Industries' Canadian Aerospace Unit
Dow Jones09-02
Bombardier has agreed to acquire certain assets of MHI Canada Aerospace from Japan's Mitsubishi Heavy Industries as the business-jet maker looks to bring more capabilities in-house.
The company on Tuesday said it entered into an agreement to add MHI Canada Aerospace's aerostructure-manufacturing capabilities and its roughly 750 employees based in Mississauga, Ontario, to support its leading aircraft programs.
The move is part of Bombardier's long-term growth strategy, and strengthens its in-house aerostructures capabilities, resilience and autonomy to meet growing demand, the company said.
No financial details of the deal were disclosed, but Bombardier said the transaction is expected to close later this year.
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