Bombardier Inc. (Bombardier) and Mitsubishi Heavy Industries, Ltd. (MHI) are pleased to announce that they have entered into an agreement under which Bombardier will acquire the assets of MHI Canada Aerospace, Inc. (MHICA), located in Mississauga, Ontario. Subject to regulatory approvals and customary closing conditions, the transaction is expected to close later this year.

With this acquisition, Bombardier will add MHICA's aerostructure manufacturing capabilities and its expert team of approximately 750 employees to support its industry-leading aircraft programs. The transaction further strengthens Bombardier's in-house aerostructures capabilities, resilience and autonomy.

"This agreement represents a key step in Bombardier's long-term growth strategy, strengthening critical capabilities, enhancing operational resilience and supporting the company's flexibility to meet growing customer demand," said David Murray, Executive Vice President, Manufacturing, Supply Chain Execution and Bombardier Operational Excellence (BOE) System, Bombardier. "MHI Canada Aerospace has built a highly respected operation with a talented and experienced team. With this acquisition, we are deepening our core manufacturing expertise as well as our commitment to proactively develop the local workforce through multiple streams in component manufacturing and whole aircraft assembly."

MHI will work closely with Bombardier to support an orderly transition, with a shared objective of maintaining continuity and avoiding disruption to the aircraft programs. MHI will also provide transitional support for an interim period following closing to facilitate the transfer of operations and ensure continuity for MHICA's employees and the operations in Mississauga.

"We are proud of what our employees have achieved at MHICA and of the important contributions they have made and will continue to make to these aircraft programs," said Hiroyuki Koguchi, Executive Vice President, Head of Commercial Aviation Systems at MHI. "Together, we have built one of Canada's aerostructures manufacturers, and this agreement ensures a bright future for our employees, whose skill, dedication and expertise have been central to MHICA's success."

"This transaction is fully aligned with Bombardier's disciplined approach to investing in strategic capabilities that support our long-term priorities. It strengthens our manufacturing footprint, reinforces our supply chain and enhances our ability to meet sustained demand for our aircraft portfolio," added Sandra Hodgkinson, Senior Vice President, Strategy and M&A, Bombardier. "This transaction is a win-win for both companies as well as for the MHICA employees who join the Bombardier family and will continue to grow the local aerospace industry."

The transaction reinforces Bombardier's position as one of Canada's leading aerospace and defense employers and demonstrates the company's continued commitment to investing in Canadian talent and manufacturing excellence. Likewise, MHI remains committed to the commercial aerospace and defense sectors and will continue to maintain a significant presence in Canada through its other business activities.

Transaction terms and conditions remain confidential to both parties.