Bombardier CEO says Ontario needs to innovate
Beaudoin says reversing manufacturing slump requires staying on cutting edge.
Toronto — The CEO of transportation giant Bombardier Inc. says he believes Ontario can turn around a slump in its manufacturing sector if there is a collective willingness to do things differently.
Pierre Beaudoin says the province’s manufacturing base has been seriously eroded by a strong Canadian dollar, uneven demand south of the border and the low cost of labour in emerging markets.
Although the outlook is bleak, he says he has seen first-hand that a dramatic change could easily happen at Bombardier.
The comments were in an advance copy of a speech he was about to deliver to a Toronto business audience at the Canadian Club.
Beaudoin says Ontario’s manufacturing crisis is really one of innovation and productivity.
He says to be successful in the private sector, companies must be on the cutting edge of technology.
© 2012 The Canadian Press