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AMERICAN BUSINESS BANK

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Bombardier union workers ratify 3-year agreement to end strike at Toronto plant

07/31/2021 | 04:13pm EDT
FILE PHOTO: Bombardier Inc's Global 7000 business jet flight test vehicle is shown on the floor of the company's assembly line in Toronto

OTTAWA (Reuters) -The union workers at Bombardier Inc's Toronto business-jet assembly plant on Saturday ratified new, three-year collective bargaining agreements, officially ending a strike that started last week, according to a statement.

The approximately Bombardier 1,500 workers who belong to Unifor, Canada's largest private sector union, voted to accept preliminary deals reached on Friday, which include wage increases and higher monthly pension benefits, the union said.

The union did not say exactly when work would resume at the facility.

Bombardier's strong-selling Global 7500, which lists for $73 million and is a key revenue generator for the pure play business-jet maker, is assembled at the Toronto production site.

De Havilland Aircraft of Canada's 700 workers who had made Dash 8-400 turboprops at the same facility remain on strike as negotiations between Unifor and the company continue, the statement said.

(Reporting by Steve Scherer; Editing by Alistair Bell and Daniel Wallis)

By Steve Scherer


ę Reuters 2021
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Net income 2020 28,8 M - -
Net cash 2020 246 M - -
P/E ratio 2020 8,99x
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Capitalization 327 M 327 M -
EV / Sales 2019 2,71x
EV / Sales 2020 0,07x
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Leon L. Blankstein President, Chief Executive Officer & Director
Karen A. Schoenbaum Chief Financial Officer & Executive Vice President
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Suzanne A. Dondanville Chief Operating Officer & Executive Vice President
Tom Ragusa Senior Vice President-Compliance & Manager-Risk
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