The companies have signed a strategic agreement to explore developing industrial and technology capabilities
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Excerpt:
Plane maker Bombardier Inc.
BBD-B-T -0.21%decrease
is partnering with British defence contractor BAE Systems
BAESF +2.86%increase
on a new effort to develop technological and industrial capabilities for future combat fighter jets.
The companies signed a memorandum of understanding to explore opportunities to collaborate across several key areas, including research and development, systems integration, and work force and supply chains, they said in separate statements Wednesday.
Bombardier chief executive Éric Martel is pushing to expand its defence business as countries around the world boost their military spending. The unit blew past its original US$1-billion revenue target five years ahead of its 2030 target.
