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Company News

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

PARIS, Dec 31 (Reuters) - French aeronautics group Latecoere has agreed to buy Bombardier’s 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.

Reporting by Sudip Kar-Gupta; Editing by Kim Coghill

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