Bombardier

Transport Infrastructure, Industrial Conglomerate, Aviation
CN: BBD/B
Canada
Bombardier

In Jan 2018, “Canadian planemaker Bombardier has submitted a draft contract for 10 brand-new CRJ-900 NextGen regional jets to Iran’s Qeshm Free Area Organization for review and finalization, Reza Baqerinejad, the CEO and Chairman of Qeshm Investment and Development Company told the Financial Tribune on Monday, noting that the final contract will be officially unveiled within a month.”

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Bombardier Inc., and Iran’s Qeshm Free Zone Organization have almost finalized a deal for purchasing 10 passenger planes. The organization’s talks with Bombardier to purchase passenger plans were publicized in April 2016, when Pierre Beaudoin, executive chairman of Bombardier, a delegation to Iran. (Financial Tribune, “Ottawa to Finance Iran’s Bombardier Order,” 7/19/2017)

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"Bombardier's CEO says that the company was a little late on chasing opportunities in Iran but should be able to catch up with its rivals following Canada's lifting of sanctions. "We started maybe a little bit behind but I'm pretty sure we're going to be able to catch up now," Alain Bellemare said in an interview. He said Foreign Affairs Minister Stephane Dion's move earlier this year to lift sanctions has been useful in helping to gain market access. With teams on the ground now in Iran, Bellemare said he's not concerned about winning its share of new orders, although the process is challenging. The Montreal-based plane and train maker sees opportunities to sell regional rail services along with regional jets and CSeries planes as Iranian companies look to modernize." (The Canadian Press,  "Bombardier will catch up despite late start to gaining access in Iran, CEO says," 10/14/2016).

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Bombardier is a “global transportation company,” which “leads the world’s rail equipment manufacturing and servicing industry.” (Company Website)

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"Among those that have publicly expressed interest in Iran is Canadian transportation company Bombardier Inc. 'Our role right now is to understand when sanctions could be lifted and how we could take advantage of a market we feel will be important for all of our products,' Pierre Beaudoin, Bombardier’s chief executive officer, said at a news conference after the company’s annual meeting on May 1." (Bloomberg News, "Iran Lures Investors Seeing Nuclear Deal Ending Sanctions," 8/17/14)

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“The Tehran Urban and Suburban Railway Company, (TUSRC), through the Chinese company CITIC, awarded Bombardier Transportation a contract for the in-house design, installation support and commissioning of a CITYFLO 350 solution for Lines 1 and 2.” (Company Press Release, 10/2/09)

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“BCP [Bombardier CPC Propulsion System Co. Ltd.] is dedicated to the production, marketing, and maintenance of propulsion equipment for rail vehicles. In November 2003, BCP was awarded a Propulsion and Control System contract from CITIC for 105 metro cars for Extension Line of Tehran Metro Line 1 in Iran.” (Company Press Release, 10/15/07)

Response: ""has always complied with all applicable restrictions … and will continue to do so, should it decide to re-enter…" (April 12, 2016)