GlobeNewswire

Bombardier Concludes Sale of its Business Aircraft Training Unit to CAE

Del

MONTRÉAL, March 14, 2019 (GLOBE NEWSWIRE) -- Bombardier today confirmed the conclusion of the previously announced sale of its flight and technical training activities to CAE, for an enterprise value of $645 million. Net proceeds are expected to be approximately $500 million after the assumption of certain liabilities, fees, and closing adjustments.

“Bombardier and CAE share a deep commitment to providing outstanding support to their customers,” said Jean-Christophe Gallagher, Vice President and General Manager, Customer Experience, Bombardier Business Aircraft. “Bombardier’s talented employees and strong relationships with clients, combined with CAE’s network and expertise, will elevate the customer experience. As CAE grows its core training business, Bombardier continues to expand its service offerings and dedicated support, each to the benefit of Bombardier Business Aircraft customers around the world.”

Bombardier and CAE also agreed to continue their Authorized Training Provider (ATP) relationship pursuant to which CAE carries out the training activities for Bombardier Business Aircraft, including from the training centres located in Montréal and Dallas.

About Bombardier
With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc.

For Information

Louise Solomita Simon Letendre
Representative, Media and Public Relations Manager, Media Relations and Public Affairs
Bombardier Business Aircraft Bombardier Inc.
+1 514-855-5001, ext. 25148 +1 514 861 9481

Patrick Ghoche
Vice President, Investor Relations
Bombardier Inc.
+1 514 861 5727

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to the Corporation’s objectives, anticipations and guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; expected growth in demand for products and services; growth strategy, including in the business aircraft aftermarket business; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and project execution in general; competitive position; expectations regarding working capital recovery across Transportation legacy projects; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings on the Corporation’s business and operations; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements and ongoing review of strategic and financial alternatives; the introduction of productivity enhancements, operational efficiencies and restructuring initiatives and anticipated costs, intended benefits and timing thereof; the expected objectives and financial targets underlying our transformation plan and the timing and progress in execution thereof, including the anticipated business transition to growth cycle and cash generation; expectations and objectives regarding debt repayments, expectations and timing regarding an opportunistic redemption of CDPQ’s investment in BT Holdco; intentions and objectives for the Corporation’s programs, including the focus on returning to profitability and exploration of strategic options for the CRJ Series program; the funding and liquidity of C Series Aircraft Limited Partnership (CSALP); and the expected impact and intended benefits of the Corporation’s partnership with Airbus and investment in CSALP and the realization of intended benefits of the Corporation’s acquisition of Triumph’s Global 7500 wing manufacturing operations and assets. As it relates to the strategic actions and proposed sale of the Q Series Aircraft program and Business Aircraft’s flight and technical training activities (collectively, the Pending Transactions), this press release also contains forward-looking statements with respect to: the expected terms, conditions, and timing for completion thereof; the respective anticipated proceeds and use thereof and/or consideration therefor, related costs and expenses, as well as the anticipated benefits of such actions and transactions and their expected impact on the Corporation’s guidance and targets; and the fact that closing of these transactions will be conditioned on certain events occurring, including the receipt of necessary regulatory approval.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Corporation’s current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release in relation to the Pending Transactions discussed herein include the following material assumptions: the satisfaction of all conditions of closing and the successful completion of such strategic actions and transactions within the anticipated timeframe, including receipt of regulatory approvals. For additional information, including with respect to the other assumptions underlying the forward-looking statements made in this press release, refer to the Strategic Priorities and Guidance and forward-looking statements sections for each reportable segment in the MD&A of the Corporation’s financial report for the fiscal year ended December 31, 2018.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with “Brexit”, the financial condition of the airline industry, business aircraft customers, and the rail industry; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business and awarding of new contracts; book-to-bill ratio and order backlog; the certification and homologation of products and services; fixed-price and fixed-term commitments and production and project execution, including challenges associated with certain Transportation’s legacy projects and the release of working capital therefrom; pressures on cash flows and capital expenditures based on project-cycle fluctuations and seasonality; risks associated with our ability to successfully implement and execute our strategy, transformation plan, productivity enhancements, operational efficiencies and restructuring initiatives; doing business with partners; risks associated with the Corporation’s partnership with Airbus and investment in CSALP; risks associated with the Corporation’s ability to continue with our funding plan of CSALP and to fund, if required, the cash shortfalls; risks associated with the Corporation’s ability to successfully integrate our acquisition of Triumph’s Global 7500 wing manufacturing operations and assets; inadequacy of cash planning and management and project funding; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial existing debt and interest payment requirements; certain restrictive debt covenants and minimum cash levels; financing support provided for the benefit of certain customers; and reliance on government support), market risks (such as risks related to foreign currency fluctuations; changing interest rates; decreases in residual values; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of the Corporation’s financial report for the fiscal year ended December 31, 2018. With respect to the Pending Transactions discussed herein specifically, certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals, or otherwise satisfy the conditions to the completion of such strategic actions and transactions or delay in completing and uncertainty regarding the length of time required to complete such strategic actions and transactions, and the funds and benefits thereof not being available to Bombardier in the time frame anticipated or at all; alternate sources of funding that would be used to replace the anticipated proceeds and savings from such strategic actions and transactions, as the case may be, may not be available when needed, or on desirable terms. Accordingly, there can be no assurance that any of the Pending Transactions will occur or that the anticipated benefits will be realized in their entirety, in part or at all. There can also be no assurance as to the completion, the form, or the timing of any BT Holdco buy-back.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in the Corporation’s forward-looking statements. The forward-looking statements set forth herein reflect management’s expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Abeona Therapeutics Announces FDA Clearance of Investigational New Drug Application for ABO-202 Gene Therapy in CLN1 Disease21.5.2019 14:00:00 CESTPressemelding

NEW YORK and CLEVELAND, May 21, 2019 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq: ABEO), a fully-integrated leader in gene and cell therapy, today announced that the Company is cleared to begin a Phase 1/2 clinical trial evaluating its novel, one-time gene therapy ABO-202 for the treatment of CLN1 disease, following acceptance of its Investigational New Drug (IND) application by the U.S. Food and Drug Administration (FDA). ABO-202 is designed to deliver a functional copy of the PPT1 gene to cells of the central nervous system and peripheral organs using a combined intravenous and intrathecal delivery via the AAV9 vector. The Company will provide guidance on the timing of the clinical trial later this year. “This significant step brings hope to people impacted by this devastating disease and was achieved in partnership with Dr. Steven Gray and Taylor’s Tale,” said Timothy J. Miller, Ph.D., Co-Founder, President & Chief Scientific Officer. “We are very encouraged that ABO-202 wa

Invivoscribe Expanding Clinical Laboratory Network Space and Testing Capabilities in San Diego, Germany, Japan, and China. Offering Comprehensive Standardized Testing for All Hematologic Malignancies21.5.2019 12:00:00 CESTPressemelding

SAN DIEGO, May 21, 2019 (GLOBE NEWSWIRE) -- Invivoscribe, Inc., a vertically integrated global company focused on Improving Lives with Precision Diagnostics ®, today announces expansion of space and testing capabilities in their international network of accredited LabPMM® clinical laboratories. Additions to the test menu will include morphology, IHC, flow cytometry, as well as the latest multiparameter flow- (MPF), and NGS-based minimal residual disease (MRD) testing of primary specimens. These new services will further support rapid patient diagnosis, study subject enrollment, and study subject stratifications. They will be available by end of this year in San Diego followed by the laboratories in Japan, Germany and China. “Our comprehensive test menu will eliminate the need for partners to split primary specimens, dramatically decreasing turnaround times and accelerating receipt of comprehensive test reports. This is especially important for partners performing international clinical

Canadian Natural Resources Limited Announces Normal Course Issuer Bid21.5.2019 11:00:00 CESTPressemelding

CALGARY, Alberta, May 21, 2019 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited ("Canadian Natural") announced today that the Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange. The notice provides that Canadian Natural may, during the 12 month period commencing May 23, 2019 and ending May 22, 2020, purchase for cancellation up to 59,729,706 common shares, being 5% of the 1,194,594,136 issued and outstanding common shares as at May 10, 2019. Canadian Natural will not acquire more than 25% of the average daily trading volume of its common shares during a trading day, being 975,709 common shares subject to certain prescribed exceptions. The price which Canadian Natural will pay for any such shares will be the market price at t

Telia Norway signs partner agreement with IMImobile for Enterprise cPaaS offering21.5.2019 09:00:00 CESTPressemelding

Scandinavian telecommunications provider to resell IMImobile’s cPaaS offering, IMIconnect, to enterprise customers LONDON, May 21, 2019 (GLOBE NEWSWIRE) -- IMImobile, a global communications software provider, has signed a partner agreement with Telia Norway, with an option to extend to the wider Telia Company – the leading telecom operator in the Nordic/Baltics. The partner agreement will enable Telia to resell IMImobile’s cloud products, including its enterprise cPaaS (Communications Platform as a Service) offering, IMIconnect, to its enterprise customers. IMIconnect enables businesses to rapidly launch and orchestrate two-way, trigger-based customer communications across 10+ channels. Driven by the changes in person to person communications, consumers now expect interactions with businesses to be personalised, relevant, contextual, interactive and conducted in real time. IMImobile is helping Telia to keep pace with changing consumer expectations and offer innovative communications s

GridGain Joins Cloud Native Computing Foundation21.5.2019 09:00:00 CESTPressemelding

Increasingly Deployed in the Cloud, GridGain Looks to Contribute to Growing Body of Cloud Native Best Practices FOSTER CITY, Calif., May 21, 2019 (GLOBE NEWSWIRE) -- GridGain® Systems, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, today announced it has joined the Cloud Native Computing Foundation® (CNCF®) and The Linux Foundation. GridGain is demonstrating its support for the CNCF with a Silver Membership and participating in the foundation’s programs and guidance related to supporting cloud native applications. CNCF is an open source software foundation dedicated to making cloud native computing universal and sustainable. CNCF has over 400 members including the world’s largest public cloud and enterprise software companies as well as dozens of innovative startups. Cloud-native computing uses an open source software stack to deploy applications as microservices, packaging each part into its own container, and dynamically orchestrating those conta

Melissa Showcases All-in-One Identity Verification at Money20/20 Europe21.5.2019 07:00:00 CESTPressemelding

Demos Highlight How to Combat Fraud, Minimise Risk and False Positives, and Maintain Compliance During Frictionless Customer Experience LONDON, May 20, 2019 (GLOBE NEWSWIRE) -- Melissa, a leading provider of global contact data quality and identity verification (IDV) solutions, will demonstrate its all-in-one cloud IDV and enrichment solution at Money20/20 Europe, stand B91. Melissa’s IDV technology operates side-by-side with existing banking and payments software platforms, seamlessly verifying identity using a global dataset of billions of records. In real time and in compliance with the full spectrum of banking regulations and data standards, financial institutions are empowered with trusted banking relationships – combatting fraud and reducing friction in the customer experience. Melissa works with organisations globally to unlock the value of accurate customer data, including Bank of America, Creditsafe, MetaBank, Tranzfar, BAE Systems, GSK, car2go, Microsoft, the NHS, and the For