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Bombardier CEO not expecting short-term changes in rail division
November 14, 2017 / 8:32 PM / 8 days ago

Bombardier CEO not expecting short-term changes in rail division

MONTREAL (Reuters) - Bombardier’s (BBDb.TO) Chief Executive Alain Bellemare said on Tuesday he will continue “assessing the competitive landscape,” but doesn’t expect a merger of two European rivals to drive big short-term changes in the Canadian company’s rail division.

The Bombardier logo is seen at the Bombardier factory in Belfast, Northern Ireland September 26, 2017. Picture taken September 26, 2017. REUTERS/Clodagh Kilcoyne

The planned merger of France’s Alstom SA (ALSO.PA) and Germany’s Siemens AG (SIEGn.DE), with whom Bombardier had previously held consolidation talks, could create “opportunities moving forward,” Bellemare said at a Goldman Sachs conference in Boston, without specifying further.

”Short-term – one year, two years, three years, I don’t see any change to be honest with you,” he said. “And even these big mergers will take time - assuming they get the green light.”

Reporting by Allison Lampert; Editing by Chizu Nomiyama

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