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BBD.B Bombardier Inc

98.20
0.00 (0.00%)
23 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Bombardier Inc TSX:BBD.B Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 98.20 98.00 98.00 0 13:30:00

Bombardier Aerospace to Establish its Moroccan Facility in the Greater Casablanca Region

18/06/2012 4:31pm

Marketwired Canada


Further to the announcement last November of its decision to establish a
manufacturing facility in Morocco, Bombardier Aerospace confirmed today that it
has signed an agreement with Midparc Investment S.A., a Moroccan property
holding and management company, to purchase from them the land required for its
new plant in the Midparc Casablanca Free Zone, in Nouaceur.


"The selection of Nouaceur as the site for our fully integrated manufacturing
facility is an important first step in the successful establishment of
Bombardier Aerospace in Morocco," said Guy C. Hachey, President and Chief
Operating Officer, Bombardier Aerospace. "The site met our stringent
requirements and high standards and we look forward to the start of the
construction and production of the first Moroccan-built Bombardier aircraft
components.


"We are committed to our long-term relationship with the Moroccan Government to
develop a world-class aerospace industry and to serve as a catalyst for this
industry in the country," added Mr. Hachey.


"We are proud of the confidence shown by Bombardier, the launch customer of the
Midparc Casablanca Free Zone, a new integrated industrial platform linked to the
industrial development plan and dedicated to aerospace, defense and on-board
electronic safety industries," said Benbrahim El Andaloussi, Midparc President,
the Moroccan company responsible for the development of this free zone and
affiliated with Midparc Investment.


Bombardier Aerospace intends to invest approximately $200 million US in
equipment, buildings and start-up costs over the next eight years. Construction
of the facility will take place in phases starting in 2012. Capabilities at the
new plant, which will complement Bombardier Aerospace's existing manufacturing
sites, will initially include sub-assembly for simple structures. Details on the
type of components to be manufactured are being finalized.


By the end of 2020, employment at the Morocco facility is expected to reach
approximately 850 trained employees.


The Midparc Casablanca Free Zone was selected because of its proximity to
Casablanca, in western Morocco, a city which offers quality industrial and
educational infrastructures, including the Institut des Metiers de
l'Aeronautique (IMA).The Mohammed V International Airport in also located in
Nouaceur.


Bombardier Aerospace selected Morocco for a number of reasons, including the
internationally competitive manufacturing costs, low shipping and transportation
costs and proximity to Europe.


About Bombardier

Bombardier is the world's only manufacturer of both planes and trains. Looking
far ahead while delivering today, Bombardier is evolving mobility worldwide by
answering the call for more efficient, sustainable and enjoyable transportation
everywhere. Our vehicles, services and, most of all, our employees are what make
us a global leader in transportation.


Bombardier is headquartered in Montreal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
World and North America indexes. In the fiscal year ended December 31, 2011, we
posted revenues of $18.3 billion USD. News and information are available at
www.bombardier.com or follow us on Twitter @Bombardier.


Bombardier is a trademark of Bombardier Inc. or its subsidiaries.

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