Aerospace company Bombardier: A timeline

MONTREAL -- It was once one of Quebec's corporate darlings whose ambitions reached the skies. But in recent years, Bombardier has hit waves of turbulence.

See Full Article

Here's a timeline that charts Bombardier's growth from a small snowmobile business to Canada's largest aerospace manufacturer, including recent struggles to sell its signature CSeries passenger planes:

1937: Joseph-Armand Bombardier launches the seven-passenger B7 snowmobile.

1942: Bombardier founds L'Auto-Niege Bombardier Limitee to manufacture the 12-passenger B12 snowmobile.

1959: The world-famous Ski-Doo is launched.

1966: Laurent Beaudoin, Bombardier's son-in-law, becomes the company's president.

1969: The company goes public with listings on the Montreal and Toronto Stock Exchanges.

1970: Bombardier buys Lohnerwerke, a manufacturer of motor scooters and trams in Vienna, Austria. The acquisition is Bombardier's first outside Canada and marks its first foray into the railway business.

1974: The company lands a deal to manufacture 423 subway cars for Montreal, its first mass transit contract.

1986: Bombardier takes to the skies, buying Canadair, maker of the Challenger business jets.

1988: Sea-Doo watercraft are launched.

1999: Robert Brown named president and CEO, succeeding Beaudoin, who becomes executive chairman of the board and executive committee.

2008: CSeries is launched. German airline Lufthansa signs a letter of interest for up to 60 aircraft.

2010: Concerns begin to crop up over delays with the CSeries jets.

2013: Maiden test flight for CSeries aircraft.

Bombardier's CS100 takes off from Montreal

Feb. 12, 2015: Laurent Beaudoin's son, Pierre, steps down as CEO, handing over the reins to Alain Bellemare as Bombardier copes with mounting cost overruns for the CSeries.

Oct. 29, 2015: Quebec announces US$1 billion in support for Bombardier.

Bombardier president and CEO Alain Bellemare

Jan. 27, 2016: Shares in Bombardier close below US$1 on the TSX for the first time in 25 years



Advertisements

Latest Economic News

  • Broker, agent who worked with subsidiary of Home Capital disciplined

    Economic CBC News
    An Ontario regulator says it has imposed disciplinary actions against a mortgage broker and agent who worked with Home Trust Co., a subsidiary of Home Capital Group, over their handling of mortgages. The Financial Services Commission of Ontario (FSCO) says it conducted a review of 45 mortgage brokers and agents that Home Capital cut ties with after they were accused of falsifying income information several years ago. Source
  • Calgary man on lam in Mexico sentenced to 3 years in $27M mortgage fraud

    Economic CTV News
    CALGARY -- A Calgary man who was arrested after being on the lam for two years in Mexico for his part in a $27 million mortgage fraud has been sentenced to three years in prison. Source
  • Nortel Canada to start paying billions to creditors

    Economic CBC News
    Nortel Canada's long-suffering creditors will finally begin to receive their share of more than US$4 billion to be distributed under a plan approved in January, eight years after the former technology titan began bankruptcy proceedings. Nortel Networks Corp. Source
  • Nortel Canada to start paying billions to creditors; first instalment by July

    Economic CTV News
    TORONTO - Nortel Canada's long-suffering creditors will finally begin to receive their share of more than US$4 billion to be distributed under a plan approved in January, eight years after the former technology titan began bankruptcy proceedings. Source
  • Que. construction strike: Day 3 kicks off with little to show at bargaining table

    Economic CTV News
    MONTREAL -- There is little progress to report at the table as Quebec's construction strike enters Day 3. Eric Cote, a spokesman for one association of employers, says negotiations resumed late Thursday and that representatives for his group emerged early today suggesting they were a waste of time. Source
  • Ford's ex-CEO leaves company with $51.1M US

    Economic CBC News
    Ford's former CEO Mark Fields is leaving the company with an estimated $51.1 million US in cash, stock awards and pension benefits. Fields, 56, retired earlier this week after three years as CEO. Ford made record profits during his tenure but its stock price dropped nearly 40 per cent on investors' concerns about the company's future. Source
  • Ford's ex-CEO leaves company with US$51.1 million

    Economic CTV News
    DETROIT -- Ford's former CEO Mark Fields is leaving the company with an estimated US$51.1 million in cash, stock awards and pension benefits. Fields, 56, retired earlier this week after three years as CEO. Source
  • Rising program expenses propel fed 2016-17 deficit to $21.8B: preliminary estimate

    Economic CBC News
    A preliminary analysis of the federal books suggests the government ran a 2016-17 deficit of $21.8 billion to put the Liberals close to their projection for the fiscal year. The Trudeau government's spring budget projected a shortfall of $23 billion for the fiscal year, without counting a $3-billion risk adjustment added to the accounting framework. Source
  • Feds run $21.8B deficit in 16-17, putting them close to target: early analysis

    Economic CBC News
    A preliminary analysis of the federal books suggests the government ran a 2016-17 deficit of $21.8 billion to put the Liberals close to their projection for the fiscal year. The Trudeau government's spring budget projected a shortfall of $23 billion for the fiscal year, without counting a $3-billion risk adjustment added to the accounting framework. Source
  • U.S. GDP reading for start of year revised upward, but still weak

    Economic CBC News
    The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading to a rate of 1.2 per cent — better than an earlier estimate of 0.7 per cent but well below President Donald Trump's ambitious growth targets. Source