FINWIRES · TerminalLIVE
FINWIRES

Bombardier to Acquire Ontario-Based MHI Canada Aerospace's Manufacturing Assets

By

Bombardier (BBD-B.TO) will acquire the manufacturing assets of MHI Canada Aerospace (MHICA) in Ontario for an undisclosed sum, the company said on Tuesday.

The transaction, which is expected to close later this year, will also see 750 employees from MHICA join Bombardier, a statement said.

"This agreement represents a key step in Bombardier's long-term growth strategy, strengthening critical capabilities, enhancing operational resilience and supporting the company's flexibility to meet growing customer demand," said David Murray, Bombardier's executive vice president of manufacturing.

"With this acquisition, we are deepening our core manufacturing expertise as well as our commitment to proactively develop the local workforce through multiple streams in component manufacturing and whole aircraft assembly," Murray added.

Bombardier shares were last seen up C$1.51 at C$301.35.80 on the Toronto Stock Exchange.

Price: $299.65, Change: $-0.19, Percent Change: -0.06%

Related Articles

Mining & Metals

Greenway Greenhouse Cannabis Reports Wider Net Loss, Higher Revenue for Fiscal First Quarter

Greenway Greenhouse Cannabis (GWAY.CN) after trade Monday reported a fiscal first-quarter loss of C$659,893, compared with C$166,453 a year ago.Revenue for the quarter ended June 30 rose 38% to C$2.23 million from C$1.62 million a year earlier.Adjusted EBITDA stood at C$47,900, down from C$78,723 in the year-ago quarter.Corresponding FactSet figures were not available.

$GWAY.CN
Mining & Metals

Earnings Flash (FTRC.V) The FUTR Corporation Reports Q2 Revenue C$1.9M

$FTRC.V
Mining & Metals

Silver Storm Mining Closes Final Tranche of Private Placement, Raises Total C$21 Million

Silver Storm Mining (SVRS.V) said Monday it closed the second and final tranche of its non-brokered private placement, raising gross proceeds of C$6.38 million. The company issued 12.75 million units at C$0.50 apiece in the second tranche.Together with the first tranche, Silver Storm issued a total of 42 million units for aggregate gross proceeds of C$21 million.Silver Storm said it plans to use the net proceeds mainly for surface and underground drilling at the La Parrilla Silver Mine Complex and for working capital.

$SVRS.V