Bombardier to Acquire Mitsubishi Heavy Industries' Canadian Aerospace Assets

Bombardier said Tuesday it will acquire the assets of MHI Canada Aerospace, Inc. in Mississauga, Ontario. The deal covers the company's aerostructure manufacturing capabilities and roughly 750 employees. Financial terms were not disclosed. The transaction still needs regulatory approvals and is expected to close later this year.

The acquisition will strengthen Bombardier's in-house aerostructures business and improve its resilience and autonomy, the company said. David Murray, executive vice president of manufacturing, supply chain execution, and operational excellence at Bombardier, said in a news release that the agreement is a step in the company's long-term growth strategy and deepens its core manufacturing expertise.

Mitsubishi Heavy Industries said it remains committed to the commercial aerospace and defense industries and will keep a significant presence in Canada through other business activities.