http://story.news.yahoo.com/news?tmpl=story&cid=841&e=5&u=/nm/20050303/wl_canada_nm/canada_transport_bombardier_plant_col
Canada - Reuters
Bombardier Says Still in Talks on New Jet Plant
By Robert Melnbardis
MONTREAL (Reuters) - Bombardier Inc. is still in talks with the
Canadian and British governments on funding offers for its $2 billion
plan to build a new family of passenger jet, the company said on
Thursday.
Bombardier spokesman John Paul Macdonald dismissed a Canadian
television report that the airplane and train maker had settled on
Mirabel, Quebec, outside Montreal, as the site for the assembly plant
for its C Series jet, backed by $750 million in loans from Ottawa and
the province of Quebec.
Macdonald said Bombardier was still in talks with Ottawa and expected
to receive a funding proposal from Britain in the coming days.
"We understand that the (British) department of trade and industry
would be presenting this to the cabinet for a decision very soon,"
Macdonald said.
Macdonald added that funding discussions are progressing well with
Ottawa, but were not complete.
"So, any type of report that says Montreal is the chosen site is
premature at best," Macdonald said.
In Ottawa, a spokesman for Industry Minister David Emerson, said the
minister had no announcement to make on funding for the proposed 110-
to 135-seat jet.
The candidate cities for the plant are Montreal, Toronto and Belfast,
Northern Ireland, three areas where Bombardier already has
manufacturing facilities.
Bombardier hopes to split the cost of the jet program equally with
government and suppliers. That means various government bodies in the
winning city would have to pitch in about $700 million toward the plan.
Radio-Canada, the French language service of CBC television, said
Ottawa was offering Bombardier $400 million in loans, while Quebec
City was set to pitch in $350 million.
Albuquerque, New Mexico, withdrew from the race on Tuesday, with the
state government saying it feared its offer of assistance would be
used as leverage against other bidders.
Bombardier said it was still interested in what New Mexico had to offer.
On Wednesday, the union for 6,300 machinists at Bombardier's
aircraft-making facilities in Quebec reached an agreement in principle
with the company on a new labor pact.
The two sides had been in intensive discussions over the past two
weeks on renewing a contract that expires Nov. 30.
Local 712 of the International Association of Machinists and Aerospace
Workers declined to divulge details of the new pact, which is thought
to include wage concessions, but said members would vote on it at a
general meeting on Sunday.
Bombardier Aerospace is seeking about $120 million in annual labor
savings from its Montreal work force as part of its proposal to build
the new jet in Quebec. About half of those savings would come from the
machinists.
Bombardier's class B shares were up 12 Canadian cents or 4.4 percent
at C$2.87 on the Toronto Stock Exchange on Thursday afternoon.
($1=$1.25 Canadian)
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