Bombardier recently announced a definitive agreement to acquire the Global 7500 wing programme from Triumph Group Inc.
The airframer said the acquisition £will strengthen Bombardier’s position as a leading aerostructures manufacturer and secure the production ramp-up and long-term success of Bombardier’s flagship business jet.
The acquired operations will be incorporated into Bombardier’s Aerostructures and Engineering Services segment. To support a seamless transition of wing production and deliveries for the Global 7500 programme, which entered into service in December 2018, Bombardier will enter into a lease agreement for Triumph’s Red Oak, Texas, facility and continue to operate the production line with the employees currently supporting the programme.
Danny Di Perna, President, Bombardier Aerostructures and Engineering Services, said: “This acquisition is a perfect strategic fit for Bombardier Aerostructures. It will allow us to bring our extensive technical expertise to one of the industry’s biggest growth programs, while solidifying our position as a leading wing provider. We look forward to welcoming the Triumph employees to Bombardier and ensuring the success of the Global 7500 programme.”
The acquisition of the programme’s assets and obligations for a nominal cash consideration is expected to close in the first quarter of 2019, subject to certain closing conditions. Bombardier will assume ongoing working capital investments and usual costs associated with the program’s production ramp-up, which are expected to fall within Bombardier’s consolidated 2019 EBIT before special items and free cash flow guidance ranges, and 2020 objectives.