French group Latecoere to buy Bombardier unit in Mexico for $50 mln

Latecoere SA

31/12/2019 06:14

PARIS, Dec 31 (Reuters) - French aeronautics group Latecoere
 LAEP.PA  has agreed to buy Bombardier's  BBDb.TO  electrical
wiring interconnection system business based in the Mexican
state of Querétaro for around $50 million, the companies said on
Tuesday.
    "This acquisition reflects our willingness to emerge as a
leading player in the global consolidation movement in the
aeronautics sector," said Latecoere chief executive Yannick
Assouad.
    Bombardier is restructuring, shedding underperforming
commercial plane programs to focus on more profitable business
jet and rail units.  urn:newsml:reuters.com:*:nL3N27G3L4
    

 (Reporting by Sudip Kar-Gupta; Editing by Kim Coghill)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))