01:22:31 EST Sun 22 Dec 2024
Enter Symbol
or Name
USA
CA



Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 550,000
Close 2024-05-21 C$ 32.34
Market Cap C$ 17,787,000
Recent Sedar Documents

Globe says Boeing to bolster Montreal aerospace sector

2024-05-22 08:44 ET - In the News

Also In the News (C-BBD) Bombardier Inc (2)
Also In the News (C-HRX) Heroux-Devtek Inc

The Globe and Mail reports in its Wednesday edition that Boeing will spend $240-million on initiatives to bolster Quebec aerospace innovation, as the U.S. industrial giant makes good on local investment commitments after winning a sole-source contract from the Canadian government for military surveillance planes last fall. The Globe's Nicolas Van Praet writes that the jet maker said Tuesday it has earmarked $110-million for a new aerospace centre in the Montreal area. The site is expected to conduct research and development in collaboration with local companies and academic institutions. Boeing said it will also invest $95-million to help subsidiary Wisk Aero develop its electric air taxis. It is also pledging $35-million to help landing-gear-maker Héroux-Devtek advance its product research. The feds announced last November it would spend $10.4-billion on a new fleet of Boeing maritime patrol aircraft, a sole-source purchase that will replace Canada's surveillance planes amid rising threats, including in the Arctic. The government signed on for 14 Boeing P-8A Poseidon aircraft, with an option for two more. The first deliveries are expected in 2026. Boeing had committed to investing $5.4-billion in Canada over 10 years.

© 2024 Canjex Publishing Ltd. All rights reserved.