Alstom says it will “take into account the consequences” of the operating and financial developments at Bombardier Transportation in forthcoming takeover discussions after the company reported an adjusted Ebit loss of $383 million in the second quarter of 2020.
The European Commission (EC) has approved Alstom’s bid to take over rival Bombardier Transportation, a move which will create the second largest manufacturer in the rail sector behind CRRC.
Bombardier Transportation has been awarded a $43 million contract by the North County Transit District (NCTD) for 11 new commuter rail cars for the COASTER service.
European Union (EU) antitrust regulators have set a deadline of July 16 for a decision on whether to approve Alstom’s bid for Bombardier Transportation.
Alstom has signed a memorandum of understanding (MOU) with Bombardier and pension fund Caisse de Dépôt et Placement du Québec (CDPQ) to acquire Bombardier Transportation, ending weeks of speculation about a proposed tie up between the two railway equipment manufacturers.
The Port Authority of New York and New Jersey (PANYNJ) has renewed a contract with Bombardier to operate and maintain PANYNJ’s automated transit system (AirTrain JFK) at John F Kennedy International Airport in New York City.
According to news reports from from local media, an audit by New York City Comptroller Scott Stringer takes issue with Bombardier Transportation’s long-delayed contract with the New York MTA for 300 new R179 subway cars.
Bombardier Transportation reported its 3Q19 financial results, and among the highlights are consolidated revenues of $3.7 billion, representing 8% organic growth, and a consolidated adjusted EBITDA and adjusted EBIT of $255 million and $159 million, respectively.
Bombardier Transportation recently appointed John Saabas as its Head of Engineering and Technology.
Bombardier Transportation recently announced that it has signed a new contract worth $220 million with the City and County of San Francisco to provide 10 years of operations and maintenance services—with an option for five additional years—for the Bombardier Innovia APM 100 automated people mover (APM) system at San Francisco International Airport (SFO).