That is one of the drivers behind the acquisition. As a company, their mission to provide the world’s most efficient mobility solutions, their commitment to technology and their focus on sustainability will serve our customers well. Vice President, Corporate Strategy and Investor Relations The most urgent need is for new vehicles, TTC staff said. Pursuant to the requirements of French law, Alstom and Bombardier will initiate Works Councils information and consultation procedures prior to the signing of the transaction documents. Unauthorized distribution, transmission or republication strictly prohibited. Bombardier Inc. is taking off. “Now it is also critically important that Toronto’s investments are in the short term matched by the federal and provincial governments who both understand the importance of investing in public transit, investing in Canadian-built vehicles and to invest in our post-COVID future. Bombardier Aviation is headquartered in Montréal, Canada and has major operations in 16 countries around the world. "I will in turn get on with my job which is to work with the other governments to secure their investments in these much needed transit initiatives. Pasqualino said it is now up to the federal and provincial governments to provide the additional funding to the city of Toronto, as traditionally these types of transportation deals are funded with a third coming from the municipality, a third from the province, and a third from the federal government. News and information are available at or follow us on Twitter @Bombardier. Bombardier will host a conference call for investors and financial analysts on Monday, February 17, 2020 at 1:30 p.m. (EST) to discuss the transaction and information contained in this press release. © 2020 Montreal Gazette, a division of Postmedia Network Inc. All rights reserved. For the next 12 to 18 months, the two companies will remain completely separate and continue to compete with one another in the North American Market, while Bombardier lobbies to bring more work to Thunder Bay. “They need a lot of streetcars and a lot of subway cars and we are the people that can fill that,” Pasqualino said. You can unsubscribe anytime or, wrote Mayor John Tory of the plan on Twitter. There is a big impact on them emotionally. Adding a substantial amount of cash to the balance sheet, and removing la Caisse preferred equity in Transportation, will change the game for Bombardier,” continued Bellemare. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We ask you to keep your comments relevant and respectful. Bombardier intends to direct these proceeds towards debt paydown and will evaluate the most efficient debt reduction strategies. Advisor, Media Relations and Public Affairs The huge debt load Bombardier took on to fund the plane’s development remained, however. “We want to make sure that message resonates with all levels of government so we can align the funding to make that happen,” he said. I don’t want to minimize that,” he said. Honeywell International Inc., which makes engines for business jets, has predicted private-jet flights will return to 2019 levels by next year. TTC staff are expected to report to the board in the year next with the results of a tree comparison. All amounts in this press release are in U.S. dollars unless otherwise indicated. A welcome email is on its way. “We are confident that the sale of our rail business to Alstom is the right action for all stakeholders. We apologize, but this video has failed to load. With a stronger balance sheet after the completion of this transaction, an industry-leading portfolio of products, a strong backlog, and a rapidly growing aftermarket business, we will compete in this market from a position of strength,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. Bombardier has signed a Memorandum of Understanding (MOU) with Alstom SA and the Caisse de dépôt et placement du Québec (“la Caisse”) for the sale of its Transportation business to Alstom. The plan also includes $ 20 million for approximately 70 new Wheel-Trans buses that will be delivered between 2022 and 2023 and $ 3 million to continue planning the purchase of 80 new subway trains. TTC plans to buy more streetcars from Bombardier despite issues with past order. And, if the city can secure additional (and much-needed) funding from other levels of government, that order will increase to a total of 60 streetcars. After deducting la Caisse’s equity position between $2.1 billion and $2.3 billion, Bombardier would receive net proceeds of between $4.2 to $4.5 billion, including $550 million of Alstom shares for a fixed subscription price of EUR 47.50, monetizable after a three-month lock-up post-closing, subject to closing adjustments, indemnities and the EUR to USD exchange rate. Bombardier (TSX: BBD.B) today announced that it has made the strategic decision to focus exclusively on business aviation and plans to accelerate its deleveraging through the sale of its rail business. Investors are hereby notified information about regular dividends declared and paid by Bombardier is only made available through its website, unless otherwise required by applicable securities laws. If the proposed transaction is not completed for any reason, there is a risk that the announcement of such transaction and the dedication of substantial resources of the Company to the completion thereof could have a negative impact on the Company’s operating results and business generally, and could have a material adverse effect on the current and future operations, financial condition and prospects of the Company, including the loss of investor confidence in connection with the Company’s ability to execute its strategic plan. In addition, the assumptions underlying the forward-looking statements made in this press release in relation to the Company’s pro forma cash on hand and stronger balance sheet include the satisfaction of all closing conditions (including without limitation receipt of regulatory approvals on acceptable terms within commonly experienced time frames) and successful completion of the sale of our operations in Belfast and Morocco and the sale of the CRJ aircraft program within the anticipated timeframe and receipt of expected proceeds and intended use thereof. The deal Airbus announced Monday, giving it control of Bombardier’s freshly introduced two-model family of small narrowbody jets — the 110-seat … But what I’m trying to share with them is I am optimistic about the horizon. And, if … In addition, failure to complete the proposed transaction for any reason could materially negatively impact the market price of the Company’s securities. Canada’s biggest aerospace manufacturer plans to move its corporate headquarters to Dorval from downtown Montreal, the … As it relates to the transaction discussed herein, this press release also contains forward-looking statements with respect to: the expected terms, conditions, and timing for completion thereof; the anticipated proceeds and use thereof and/or consideration therefor, as well as the anticipated benefits of such transaction and their expected impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition and cash on hand, business plan and overall strategy (including our expectation of a deleveraged profile and reshaped capital structure and the removal of CDPQ’s preferred equity in Transportation); and the fact that closing of this transaction will be conditioned on certain events occurring, including without limitation the receipt of necessary regulatory approvals, the execution of definitive documentation, receipt of Alstom shareholder approval in respect of the required capital increase and completion of relevant works council consultations.

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