Dec 27, 2019, 14:20 EST
Dec 27, 2019, 14:20 /Comserve / -- The Electrical Wiring Interconnection System business by Bombardier, located in Querétaro, Mexico, will bring the expertise and skills to Latécoère
Latécoère announced that it has entered into a definitive agreement with Bombardier in which the company will acquire the assets of Bombardier’s Electrical Wiring Interconnection System (EWIS) business situated in Querétaro. Along with this, a long term agreement was also signed by the two companies according to which Latécoère will supply electrical wiring interconnection systems to Bombardier.
The long term supply agreement further mentions that EWIS will continue to be supplied by Latécoère for all the platforms of Bombardier Aviation, including Challenger, Global and Learjet aircraft in order to support the requirements of Bombardier. In the Querétaro facility of Bombardier, around 700 skilled employees are involved in the manufacturing of the EWIS. The annual turnover of this business is estimated to be approximately USD 80 million.
This transaction between the two companies is subject to various customary conditions and is likely to close during the first six months of 2020. Under this agreement, Bombardier will receive a cash consideration of USD 50 million by Latécoère. Further, as per this transaction, Latécoère will benefit greatly as the skilled employees in Querétaro would bring a high value and years of experience to the company.
Through this transaction, Bombardier Aviation will be transformed significantly and Latécoère’s focus on its manufacturing abilities will increase in the coming years.
Latécoère is one of the leading partners to major international aircraft manufacturers, such as, Airbus, Boeing, Bombardier, Dassault and Embraer. It is involved in the development, manufacturing and product support activities in the aviation industry. The company offers its services in various segments of the aeronautical market including commercial, military, corporate and regional aircraft. The specialization of Latécoère lies mainly in the fields of aerostructures and interconnexion systems.
Bombardier is a globally leading company in the transportation industry, providing outstanding transportation experiences to the passengers while ensuring comfort, reliability and safety. Based in Montreal, Canada, the company possesses a large number of production and engineering sites which are located in 28 countries.
For more information, please contact:Jackie Hurtado
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