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Spirit AeroSystems takes control of the Bombardier group plant in Morocco

After several months of negotiations, the Canadian group Bombardier and the American company Spirit AeroSystems finally reached an agreement. Thus, under the signed agreement, Spirit AeroSystems will take control of Bombardier’s factories in Casablanca, Belfast, Northern Ireland, and Dallas in the United States.

The Canadian group Bombardier announced on Monday that it had reached an amended agreement for the sale of its aerostructures activities to the American company Spirit AeroSystems, for 275 million dollars instead of the 500 million initially planned. Note that under the agreement that will take effect on October 30, Spirit will acquire Bombardier factories in Belfast, Northern Ireland, Casablanca, Morocco and Dallas in the United States. We learn that the total value of the transaction is $ 1.2 billion, including liabilities of $ 824 million.

For Éric Martel, President and CEO of Bombardier, this agreement signed today marks a new step towards achieving the group’s strategic objective of repositioning Bombardier as a company focused on business aircraft. In recent weeks, Spirit AeroSystems had warned that this agreement would be automatically canceled if certain conditions were not met by the end of October, leaving great uncertainty as to whether the transaction would close. Finally, it should be noted that the operation should allow Bombardier to reduce its debt estimated at 9.3 billion dollars as of June 30.

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