Monday, February 26, 2024

Bombardier cuts ties with Russia

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Maria Gill
Maria Gill
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(Montreal) It was Bombardier’s turn to sever ties with Russia in the wake of the invasion of Ukraine.

Posted at 4:48 pm.

The business jet manufacturer confirmed on Friday that it had halted “all activities with its Russian customers, including any form of technical assistance.”

“We will continue to comply with international laws, regulations and sanctions as they develop,” the Montreal-based company added in a statement.

The company thus joins several Canadian and international companies that have decided to boycott Russia. In Quebec, for example, the recreational vehicle manufacturer BRP announced yesterday that it would suspend its activities with the state of Vladimir Putin. The state accounts for 5% of its total sales.

At the end of February, Bombardier President and CEO Eric Martel said about 5% or 6% of annual revenue of $6 billion came from clients in Russia or the Commonwealth of Independent States (CIS, made up of former Soviet republics), roughly the same as Canada. .

With regard to the situation in Ukraine, the company has indicated on several occasions that it intends to respect Canadian sanctions, without committing, before Friday, activities that will always be permitted.

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