MONTRÉAL, Oct. 29, 2015 /CNW Telbec/ - Aéro Montréal, Québec's aerospace cluster, is delighted that the Québec government announced today the establishment of a limited partnership with Bombardier to carry out the CSeries program and a $1 billion US investment enabling Québec to own a 49.5% stake in the new company.
"This announcement demonstrates the importance the government attaches to the CSeries and its significance to the development of Québec's aerospace industry," said Suzanne Benoît, President and Chief Executive Officer of Aéro Montreal. "Bombardier is the flagship company for the aerospace industry in Québec and Canada. Supporting it is necessary to maintain quality jobs in Québec. The government's investment comes at a strategic time in the development of the CSeries program and will reassure all stakeholders in Québec's aerospace supply chain. Among others, maintaining manufacturing activities and Bombardier's engineering services in Quebec will help spark renewed optimism among the industry, as well as among all the workers and students who are developing or want to develop in this sector."
By becoming a partner of the company, the Québec government is making a long-term investment in the CSeries program, which employs about 1,700 workers across the province.
Research and development (R&D) is a key driver for maintaining the Québec aerospace industry's position as a world leader. This sector represents 70% of total Canadian R&D investments and a quarter of the Greater Montréal's aerospace workforce. The Québec Investment is therefore vital over the long term to ensure the region's economic growth.
About Aéro Montréal
Created in 2006, Aéro Montréal is a strategic think tank that groups all the major decision makers in Québec's aerospace sector, including companies, educational and research institutions, as well as associations and unions.
Aéro Montréal's mission is to mobilize Québec's aerospace cluster with a view to increasing its growth and expansion on the global scene. Its vision is to become a benchmark in global aerospace. To do so, it champions the following values: excellence, engagement, collaboration, versatility and innovation.
SOURCE Aéro Montréal
Image with caption: "Aéro Montréal (CNW Group/Aéro Montréal)". Image available at: http://photos.newswire.ca/images/download/20151029_C7006_PHOTO_EN_532566.jpg
For further information: Gwenaël Brisé, Communications Advisor, Aéro Montréal, Off.: 514 987-9395, cell.: 438 email@example.com