Bombardier in talks on $3.39 billion deal in Russia
By Canadian Press
General Aerospace Aerospace Bombardier q400Canadian regional jet maker poised to setup Q400 aircraft assembly line.
Bombardier has signed a preliminary agreement with a Russian state corporation for the purchase of as many as 100 Q400 NextGen aircraft in a deal that could be worth up to $3.39 billion.
The Montreal-based plane and train manufacturer said Wednesday that the deal with Rostekhnologii, a state corporation controlled by the Russian Federation, also includes the possibility of setting up a Q400 NextGen final assembly line in Russia to complement its Toronto operations.
Bombardier says the manufacturing facility in Russia is a key commercial requirement for the deal and would be managed by a joint venture. The sales agreement is expected to be finalized in 2014.
There are currently more than 120 Bombardier commercial aircraft in service in Russia and other former Soviet republics.
© 2013 The Canadian Press
