Bombardier sells Mexico wiring company to Latecoere | News

Bombardier has marketed its aerospace wiring business enterprise in Mexico to French aerospace business Latecoere for $45 million, closing a offer that experienced been in the operates for much more than just one year.

Latecoere stated on 16 February that it last but not least finished the acquisition of what had been Bombardier’s Electrical Wiring and Interconnection Devices (EWIS) business.

Dependent in Querétaro, Mexico, EWIS makes electrical harnesses and sub-assemblies and generates yearly revenue of about $60 million, Latecoere states.

In December 2019, Bombardier disclosed its intention to market EWIS to Latecoere. At that time, Bombardier supposed to divest the business enterprise for $50 million and to shut the deal in the initial half of 2020.

Bombardier will proceed to acquire elements for its World wide and Challenger enterprise jet’s from EWIS underneath a extended-time period offer settlement with Latecoere, the French business states.

The acquisition will empower Latecoere to “expand its client portfolio” by supplying other aerospace businesses such as Airbus Canada, CRJ maker MHIRJ and Canadian aerostructures firm Avcorp.

Bombardier’s world headcount declines by about 500 staff members with the divestiture. The Canadian enterprise will still retain an aerostructures production footprint in Mexico, building structures which includes the World wide 7500’s rear fuselage.

The deal marks a further divestiture for Bombardier, which has offered a variety of belongings in the latest a long time in a bid to focus on developing and production company jets.