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BRIEF-Bombardier To Acquire Global 7500 Aircraft Wing Program From Triumph Group Inc

Published 2019-01-24, 06:36 a/m
© Reuters.  BRIEF-Bombardier To Acquire Global 7500 Aircraft Wing Program From Triumph Group Inc
BBDb
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Jan 24 (Reuters) - Bombardier Inc BBDb.TO :

* BOMBARDIER TO ACQUIRE GLOBAL 7500 AIRCRAFT WING PROGRAM FROM TRIUMPH GROUP INC.

* BOMBARDIER - TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2019 FOR A NOMINAL CASH CONSIDERATION

* BOMBARDIER - AEROSTRUCTURES REVENUE GUIDANCE FOR 2019 IS ADJUSTED UPWARDS TO BETWEEN $2.25 BILLION TO $2.50 BILLION

* BOMBARDIER - FOR 2020, BUSINESS AIRCRAFT NOW TARGETS 50 BASIS POINTS OF MARGIN GROWTH TO APPROXIMATELY 8%

* BOMBARDIER - AT BUSINESS AIRCRAFT, 2019 EBIT MARGIN BEFORE SPECIAL ITEMS GUIDANCE OF APPROXIMATELY 7.5% REMAINS UNCHANGED

* BOMBARDIER - ACQUIRED OPERATIONS WILL BE INCORPORATED INTO BOMBARDIER'S AEROSTRUCTURES AND ENGINEERING SERVICES SEGMENT

* BOMBARDIER - WILL ENTER INTO A LEASE AGREEMENT FOR TRIUMPH'S RED OAK, TEXAS, FACILITY

* BOMBARDIER - WILL ASSUME ONGOING WORKING CAPITAL INVESTMENTS AND USUAL COSTS ASSOCIATED WITH PROGRAM'S PRODUCTION RAMP-UP

* BOMBARDIER - AEROSTRUCTURES' 2019 EBIT MARGIN BEFORE SPECIAL ITEMS GUIDANCE IS ALSO ADJUSTED TO ABOUT 7.5%

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