22:08:47 EDT Wed 24 Apr 2024
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Bombardier Inc
Symbol BBD
Shares Issued 1,932,675,863
Close 2016-09-28 C$ 1.62
Market Cap C$ 3,130,934,898
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Globe says Bombardier boss promises better in Toronto

2016-09-29 07:46 ET - In the News

The Globe and Mail reports in its Thursday edition that a vehicle order from Bombardier that Ontario is willing to open up to other suppliers is "very critical" to the company, its CEO said during a visit to Toronto. The Globe's Oliver Moore quotes chief executive officer Alain Bellemare telling the Empire Club primarily about the turnaround the Quebec-based firm has been undergoing in the 18 months since he took the helm. However, recognizing the problems plaguing two major orders for transit projects in Toronto, he said, "I became very disappointed with our performance right here in Toronto -- TTC or Metrolinx -- so I will just say that we made some significant changes," referring to a managerial shakeup and increased production capacity. The Toronto Transit Commission has watched in frustration as Bombardier failed to meet a series of deadlines to deliver streetcars. Bombardier has also been slow to produce the first light-rail vehicle of a large order for Metrolinx, the regional transit agency. The provincial government had privately signalled it is open to having other companies produce about two dozen of 182 vehicles ordered from Bombardier, enough to supply a planned light-rail line on Finch Avenue West.

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