Bombardier to Sell Toronto Aircraft Assembly Plant for $635 Million
TORONTO—Bombardier Inc. has signed a deal to sell its Downsview aircraft assembly plant in Toronto for US$635 million to the Public Sector Pension Investment Board, the company said in a statement last week. Under a lease agreement, Bombardier will continue to operate from the Downsview assembly site for up to 3 years following the closing of the deal, with two optional 1-year extension periods.
Bombardier announced that it has also signed an agreement with the Greater Toronto Airports Authority for a long-term lease of a property at Pearson International Airport where it plans a new final assembly plant for its global business jets.