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Bombardier

FB roundup: Bombardier, Charoen Pokphand, and Volkswagen

November 16, 2018

Bombardier to cut 5000 jobs in restructuring, Thailand conglomerate Charoen Pokphand Group bids for rail project, and Volkswagen in talks with Ford to invest in self-driving unit Argo.

Bombardier to cut 5000 jobs in restructuring

Canadian aerospace giant Bombardier is to cut 5,000 jobs as part of an effort to streamline operations and reduce costs.

Bombardier said the 7% reduction of its workforce over the next 12 to 18 months will save the company about $250 million a year by 2021, with the job cuts mostly coming from the company’s engineering and management ranks.

FB roundup: Bombardier, Dyson, and UK non-doms

September 28, 2017

US regulators side with Boeing in Bombardier row; Dyson to release “radical” EV; and non-doms flee Brexit UK.

US regulators side with Boeing in Bombardier row

Family-controlled Bombardier has called a proposed import duty on its new US fleet “absurd and divorced from reality”, in the latest chapter of its spat with American rival Boeing.

The US Commerce Department this week sided with Boeing in the dispute, proposing punitive tariffs of up to 219% on Bombardier’s C-Series jet, which Boeing claims is being sold in the US below cost thanks to subsidies and bailouts from the Quebec, Canadian and UK governments.

FB Roundup: ArcleorMittal, Bombardier, and Ramco Group

May 17, 2017

ArcelorMittal doubles earnings after cost-cutting drive; Bombardier’s Beaudoin leaves chairman post amid revolt but stays on board; India’s Ramco Group second-gen chairman dies.

ArcelorMittal doubles earnings after cost-cutting drive

The chief executive of steel and mining giant ArcelorMittal says he is “satisfied” following a first quarter result which saw sales up 20% year-on-year.

Sales in the quarter ending 31 March were $16.1 billion, up from $13.4 billion for the same period last year. Net income sat at $1 billion, compared to last year’s first quarter loss of $416 million.

Bombardier replaces third-gen with professional chief executive

February 13, 2015

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Pierre Beaudoin, grandson of the company’s founder, has been chief executive of the Montreal-based aerospace company since 2003, but on Thursday announced he was stepping down to make way for Alain Bellemare, a former United Technologies Corp (UTC) executive.

Bombardier sees rise in orders

April 6, 2011

Family-controlled transportation and aerospace company Bombardier announced on 5 April that it has received an order for six business jets valued at a total of $255 million, just days after reporting a decline in its 2010 revenues.

Bombardier turns to third-generation leader

June 5, 2008

Pierre Beaudoin, grandson of Bombardier founder Joseph-Armand Bombardier, has become president and CEO of the Canada-based transportation and aerospace company.

Pierre Beaudoin (pictured), grandson of Bombardier founder Joseph-Armand Bombardier, has become president and CEO of the Canada-based transportation and aerospace company. His father, Laurent, is stepping down after 42 years at the top.

Laurent's last duty as president was to announce the firm's first quarterly results, which showed a revenue growth of 21% to reach $4.8 billion. He will continue as chairman - a role he has held since 1979.