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Tag: Bombardier

Bombardier sells Northern Ireland operations in $1.1bn deal

Bombardier sells Northern Ireland operations in $1.1bn deal

Business
Canada's Bombardier has agreed to sell its Belfast-based aerospace business to US-based Spirit AeroSystems as part of a $ 1.1bn (£840m) deal.The business is Northern Ireland's biggest manufacturer, employing 3,600 people, and was put up for sale by Bombardier in May. Its history dates back to the 1930s when Shorts established its first factory in Belfast.The deal will see Kansas-based Spirit pay $ 500m (£390m) in cash, and take on liabilities worth $ 590m (£460m), to acquire aerostructure operations in Northern Ireland, Morocco and Texas.Spirit, whose global operations include a site in Prestwick, Scotland, makes parts for aeroplane makers Boeing and Airbus. Advertisement
US Bombardier dispute: 'Huge relief' for British workers

US Bombardier dispute: 'Huge relief' for British workers

Business
Media playback is unsupported on your devicePoliticians and union leaders have welcomed a ruling which stops the US imposing huge 292% import tariffs on planes partly made by British workers. Over a thousand jobs in Belfast depend on the success of the C-Series passenger jet, which is manufactured by Canadian aerospace firm Bombardier.UK Prime Minister Theresa May said it was "good news" for UK industry.Trade union Unite said workers in Northern Ireland "will be breathing a huge sigh of relief".Bombardier had been widely expected to fail in its bid to overturn a ruling by the US Commerce Department in December that the UK and Canada had given it unfair subsidies.But the case, centred on a complaint by US rival Boeing, was dismissed by the US International Trade Commission (ITC).Mrs May wel...
UK Bombardier staff 'relief' after trade ruling

UK Bombardier staff 'relief' after trade ruling

Business
Aircraft manufacturer Bombardier has won its case against plans for huge tariffs on its US imports which had put thousands of jobs at risk in Northern Ireland.In a surprise decision, the US International Trade Commission (ITC) ruled in favour of Bombardier over American firm Boeing, which claimed its rival received unfair state subsidies from the UK and Canada.The decision blocks US government proposals to slap 292% tariffs on Bombardier C-Series passenger planes, which risked thousands of jobs in Northern Ireland where the jets' wings are made.Bombardier, which employs more than 4,000 people in Belfast and contributes an estimated £400m to the Northern Ireland economy, said the C-Series jets were "critical" to its operations there.Sky News' Ireland Correspondent David Blevins said the ru
UK 'disappointed' by Bombardier tax ruling

UK 'disappointed' by Bombardier tax ruling

Business
Media playback is unsupported on your deviceTheresa May is "bitterly disappointed" the US has opted to impose a tax on the C-Series jet made by Bombardier, one of Northern Ireland's biggest employers.The PM said the UK would work with Bombardier to protect "vital" jobs after the US Department of Commerce proposed the 220% import tariff.Rival Boeing complained Bombardier got unfair state subsidies from the UK and Canada, helping it win a major order.Bombardier said it would fight the "absurd" ruling.The UK government and trade unions fear the imposition of tariffs could make the Canadian firm question whether to remain in Northern Ireland, where it employs 4,100 of its 28,000-strong workforce.The ruling damaged the global aerospace industry and was "frankly not what we would expect of a lon...