Bombardier sells defence business for $90 million

Bombardier today announced that it is to sell its Military Aviation Services unit to Spar Aerospace, a subsidiary of New York-based L-3 Communications, for $90 million.

Bombardier today announced the sale of its Military Aviation Services (MAS) unit to Spar Aerospace Limited, a subsidiary of New York-based L-3 Communications Corporation, for a total consideration of $90 million.

MAS was part of Bombardier’s Defence Services business, which also comprised Military Aviation Training (MAT), and was earmarked for divestiture as part of Bombardier’s recapitalisation program.

The MAS division of Bombardier’s Defence Services business, which employs approximately 950 people, provides maintenance, repair, overhaul and a range of technical services for military aircraft, from systems engineering to aircraft modification.

In 2003 MAS, which has its main facilities Mirabel, Quebec and Bridgeport, West Virginia, generated revenues of approximately $125 million Cdn.

The transaction is subject to the approval of all appropriate regulatory authorities and to other consents from government bodies in Canada and the US.