MONTREAL -- Bombardier Inc. has signed a deal to acquire the Global 7500 wing manufacturing operations and assets from Triumph Group Inc.
The company said the acquisition of the program for a nominal cash consideration is expected to close in the first quarter of 2019.
The Global 7500, which entered service in December, is Bombardier's flagship business jet.
The company says the acquisition will strengthen its position as an aerostructures manufacturer and secure the production ramp-up and long-term success of the jet.
The operations will be incorporated into Bombardier's aerostructures and engineering services segment.
Bombardier will enter into a lease agreement for Triumph's facility in Red Oak, Texas, and continue to operate the production line with the employees currently working on the program.
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