Bombardier confirms progress on 5-year turnaround plan

Bombardier (TSX: BBD.A)(TSX: BBD.B)(OTCQX: BDRBF) has undertaken a series of actions as it continues to execute its five-year turnaround plan designed to support the company´s efforts to reduce costs and improve productivity, the company said.

The company said it expects to realize recurring savings of approximately USD300 million by the end of 2018 while building its earnings growth potential and highlighting its focus on improving productivity, reducing costs and optimizing its worldwide footprint to deliver increased value to customers and shareholders.

Specific actions to be taken by the company include streamlining its administrative and non-production functions across the organization and leveraging its worldwide footprint to create centers of excellence for design, engineering and manufacturing activities in both its aerospace and rail businesses.

Bombardier is a manufacturer of both planes and trains. Bombardier is headquartered in Montréal, Canada and posted revenues of USD18.2 billion in 2015.