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    BBD.B   CA0977512007

BOMBARDIER INC.

(BBD.B)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 09/24 04:00:00 pm
2.02 CAD   -0.98%
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Bombardier : Union ratifies deal with Bombardier at Downsview; talks with De Havilland continue

07/31/2021 | 07:36pm EDT

TORONTOUnifor says members of two of its locals have ratified an agreement with Bombardier Aviation at its Downsview plant in north Toronto.

Unifor National President Jerry Dias says in a statement that the three-year collective agreement approved by members of Local 112 and 673 makes "significant progress" on key issues such as pensions, as well as on job protection against outsourcing and the use of contractors.

Workers will see raises of 0.5 per cent in Year 1, 0.75 per cent in Year 2 and one per cent in Year 3.

The workers launched a strike late last month against the business jet manufacturer and De Havilland, which it says had made Dash 8 turboprops at the facility.

Unifor says the ratified deal covers approximately 1,500 Bombardier Aviation workers, and runs from June 23, 2021 to June 23, 2024.

But it says 700 De Havilland workers remain on strike as negotiations between it and the company continue, with a dedicated picket line in operation at the De Havilland area of the facility.

“As the industry recovers from this once-in-a-century pandemic and Bombardier prepares to move production to a new facility at Pearson Airport, these collective agreements will ensure our highly skilled members will maintain wages, pension, benefits and other working conditions that are among the best in the industry," Dias said in the statement.

The union has said the future of the Dash 8 program is the focus of talks with De Havilland.

De Havilland announced earlier this year that it would no longer produce new Dash 8s at the facility beyond currently confirmed orders. De Havilland indicated two years ago that work will end at Downsview once lease agreements for the land expire.

This report by The Canadian Press was first published July 31, 2021.

Companies in this story: (TSX:BBD.B)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (USD)
Sales 2021 5 997 M - -
Net income 2021 4 959 M - -
Net Debt 2021 5 487 M - -
P/E ratio 2021 0,79x
Yield 2021 0,03%
Capitalization 3 838 M 3 828 M -
EV / Sales 2021 1,55x
EV / Sales 2022 1,43x
Nbr of Employees 45 550
Free-Float 87,7%
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Mean consensus HOLD
Number of Analysts 16
Last Close Price 1,60 $
Average target price 1,49 $
Spread / Average Target -6,51%
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Managers and Directors
Éric Martel President, Chief Executive Officer & Director
Bart W. Demosky Chief Financial Officer & Executive Vice President
Pierre Beaudoin Chairman
François Caza Chief Technology Officer
Ernest Jeffrey Hutchinson Chief Information Officer
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