Tag: Bombardier

Eric Martel leaving Hydro-Quebec to become president, CEO of Bombardier

MONTREAL – Bombardier Inc. is replacing chief executive Alain Bellemare as it moves ahead with its new focus on business jets. Bombardier said Eric Martel has been appointed president and chief executive officer and a member of the Bombardier board of directors, effective April 6. Martel joins Bombardier from Hydro-Québec, where he served as president…

Bombardier sells regional jet business to Japanese firm Mitsubishi

MONTREAL – Bombardier Inc. announced Tuesday a deal to sell its regional jet program to Mitsubishi Heavy Industries Ltd. for US$ 550 million, cementing the plane-and-train maker’s exit from commercial aviation. “With our aerospace transformation now behind us, we have a clear path forward and a powerful vision for the future,” Bombardier chief executive Alain…

Bombardier facing World Bank ban over Azerbaijan corruption allegations

MONTREAL – Bombardier Inc. is facing a possible ban from World Bank-financed projects after it received a show-cause letter related to a rail equipment deal plagued by corruption allegations. The letter is the latest development in an ongoing investigation into a roughly $ 340-million contract awarded to a Bombardier-led consortium in 2013 to supply signalling…

Bombardier executive compensation rises to $33.4 million in 2017

MONTREAL—Bombardier’s executive compensation rose seven per cent to $ 33.4 million (U.S.) in 2017, according to a circular released ahead of the company’s May 3 annual meeting. The increase comes after a year marked by improved results, but also by the Airbus takeover of the C Series program without the company having to pay a…

Bombardier may lay off hundreds of workers in Quebec if no orders come in

By Julien ArsenaultThe Canadian Press Mon., Feb. 19, 2018 MONTREAL—The railway division of Bombardier Inc. says losing out on a large electric train contract in Montreal may force it to lay off workers this fall at its plant in La Pocatiere, Que., unless it wins some new contracts. Spokesperson Eric Prud’homme describes the situation for…