|By Marketwired .||
|July 23, 2014 04:32 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 07/23/14 -- Today, Bombardier Inc. (TSX: BBD.A)(TSX: BBD.B)(OTCQX: BDRBF) announced the implementation of a new organizational structure, comprised of four business segments:
-- Bombardier Transportation -- Bombardier Business Aircraft -- Bombardier Commercial Aircraft -- Bombardier Aerostructures and Engineering Services
Effective immediately, all four business segments will report directly to Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc. The heads of the business segments remain Lutz Bertling at Transportation, Eric Martel at Business Aircraft and Mike Arcamone at Commercial Aircraft. The head of the new Aerostructures and Engineering Services business segment will be appointed in the next few weeks. Bombardier Aerospace group functions and the Customer Services division will be absorbed into the three aerospace business segments, generating reductions in cost and overhead.
"This marks another step in Bombardier's evolution," said Pierre Beaudoin. "Combined with the implementation of OneBT, the recent Bombardier Transportation reorganization, the new Aerospace organizational structure will enable us to be more agile and flexible in addressing customer needs, while increasing our focus on growth areas. The creation of the Aerostructures and Engineering Services business segment will also help us market our expertise in this field to the aerospace industry, thus generating new revenues. We are setting the stage to take full advantage of our investments and the tremendous growth potential of our new products."
The new Aerostructures and Engineering Services business segment will specialize in the design and development of complex advanced composite and metallic aerostructures in all classes of civil aircraft and all categories of structure, including fuselages, wings and engine nacelles.
As a result of this reorganization, Bombardier Aerospace President and Chief Operating Officer, Guy Hachey, is retiring. "Guy led Bombardier Aerospace during an important period in its history. I wish to thank him for his contributions over the past six years," said Mr. Beaudoin.
A detailed implementation plan will be developed over the next few months, and the new structure will be in place January 1, 2015.
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 Indices. In the fiscal year ended December 31, 2013, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Bombardier and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.
+514 861 9481, ext. 13773
Senior Director, Investor Relations
+514 861 9481, ext. 13356
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