RE:Bombardier Continues Global Customer Service Expansion, 09:52 AM EDT, 09/29/2020 (MT Newswires) -- Bombardier Inc. (BBD-B.TO) was down 2.8% at last look after saying Tuesday that it entered into share purchase agreements with each of Lufthansa Technik AG and ExecuJet Aviation Group AG to acquire all of the issued and outstanding shares of Lufthansa Bombardier Aviation Services that Bombardier does not already own.
The planes and trains manufacturer said the transaction enables it to further expand its footprint by establishing a wholly owned service center located at the Berlin-Schonefeld airport. Deal's close is expected before the end of the year.
The service center has more than 160,000 square feet of service capacity and 240 employees on site and provides customer support for Bombardier's fleet of Learjet, Challenger and Global business jets based in Europe, Russia, Africa and the Middle East.
The transaction is one of Bombardier's latest infrastructure investments. The company recently announced the construction of a new service center at the Miami-Opa Locka Executive Airport; the ongoing expansion of the Biggin Hill service centre in London; the major expansion of the Singapore service center at the Seletar Aerospace Park; new line maintenance stations in the U.S and Europe; and new products and services for customers, including the next steps in Bombardier's digital transformation.