Latécoère Enters into an Agreement to Acquire Bombardiera??s Electrical Wiring Interconnection System Business in Querétaro

LatA©coA?re to acquire EWIS activities and related assets as well as a skilled workforce specializing in harnessing and electrical sub-assemblies in QuerA©taro

Agreement promotes long-term relationship with LatA©coA?re and supports the optimization of Bombardier Aviation A 

Bombardier continues to produce major structures at its high-tech main campus in QuerA©taro, including the aft fuselage for the Global family of jets

TOULOUSE, France and MONTREAL, Dec. 31, 2019 (GLOBE NEWSWIRE) -- LatA©coA?re and Bombardier announced that the companies have entered into a definitive agreement, whereby LatA©coA?re will acquire Bombardiera??s electrical wiring interconnection system (EWIS) assets in QuerA©taro, Mexico. The two companies also concluded a long-term supply agreement that will see LatA©coA?re supply Bombardier with electrical wiring interconnection systems.The transaction is subject to customary conditions and approvals and is expected to close in the first half of 2020.Approximately 700 skilled employees are dedicated to the manufacture of EWIS at Bombardiera??s facility in QuerA©taro. Under the long-term supply agreement, LatA©coA?re will continue to supply the EWIS for all Bombardier Aviation platforms, including Global, Challenger and Learjet aircraft from the current location to support Bombardiera??s requirements. The annual turnover of the business is anticipated to be around USD 80 million.a??This acquisition reflects our willingness to emerge as a leading player in the global consolidation movement in the aeronautics sector,a?? said Yannick Assouad, CEO of LatA©coA?re. a??We keep deploying our manufacturing footprint on an international scale with a strong desire to strengthen our presence in the areas closest to our customers,a?? she added.a??This agreement exemplifies Bombardiera??s focus on streamlining its activities to foster a strong and efficient aviation franchise,a?? said Paul Sislian, Chief Operating Officer, Bombardier Aviation. a??With LatA©coA?rea??s reputation for excellence, this new partnership will result in a winning combination for both our companies.a??
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