With all the phased cuts and despite winning a fight against Trump's protectionism, this comes as a shock, but not much of a surprise. Sending a chill down the spine though. The local politicians run around looking for insurance, but impotent. They can't even make the ritual promises of "everything will be done that can be done." Brexit and Stormont are out of the way, adding the impression of a difficult environment for new foreign direct investment.
Although Bombardier did not refer to Brexit in his statement, efforts to find a buyer for the facility could be hampered by uncertainty about tariffs and tariff arrangements between the UK and the EU. Airbus, which may have been seen as a potential buyer of the site, has expressed grave concern about how Brexit affects the UK investment. Last year, Bombardier made his signature to an open letter to MPs urging them to take a non-appointment from the table to preserve jobs in Northern Ireland.
What do you say to Arlene, Nigel, Gavin Robinson and friends ?
Bloomberg reports on the prospects.
The planned divestment in Northern Ireland promotes Bellemares 9 CEO Bombardier) Airport Transfer at Bombardier, which last year controlled its C Series to Airbus SE. But uncertainty about the UK's planned split from the EU is lagging behind the plan to sell the advanced composite weaving plant in Belfast.
It is still not clear whether barriers will be raised between Northern Ireland and the mainland, after a divorce. The exit has been postponed to October 31, and a chaotic non-scenario that would speak trade – the worst case for business – has not been completely excluded.
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"The government will work with potential buyers to pursue this successful and ambitious business," UK business secretary Greg Clark said in a statement on the Belfast facility.
The major players in aircraft parts include US-based spirit AeroSystems Holdings Inc. and Triumph Group Inc., plus the UK's GKN, acquired last year by Melrose Industries Plc in a $ 10 billion hosting acquisition. Bombardier's Belfast factory supplies the C series, which Airbus renamed A220.
"Seller Belfast will further distance Bombardier from the A220," said analyst Seth Seifman of JPMorgan Chase & Co. in a note to clients. "This makes it a valuable resource, and with Airbus still ramping the production of a young program, we can imagine it will have an opinion on who owns this integrated piece."
Spirit said Wednesday that it was looking for acquisitions to diversify from its addiction to Boeing Co. and 737 Max, who has been grounded since March after two deadly crashes in five months.
"If Airbus does not want to be active itself, there is another possibility for Spirit AeroSystems," Seifman said. 19659013] Former BBC journalist and leader in Belfast, Manchester and London, editor Spolight; Political editor BBC NI; Current Affairs Commissioner Editor BBC Radio 4; Editor Political and Parliamentary Programs, BBC Westminster; former London Editor Belfast Telegraph. She Senior Researcher, Constitutional Unit, Univ Coll. London