Bombardier

#2820

Rank

$4.15B

MarketCap CA

CA Canada

Country

Summary
Bombardier Inc. engages in the manufacture and sale of business aircraft in Europe, North America, the Asia Pacific, and internationally. It provides new aircraft, specialized aircraft solutions, and pre-owned aircraft. The company also offers aftermarket services, including parts, smart services, service centers, training, and technical publications. It serves multinational corporations, charter and fractional ownership providers, governments, and private individuals. The company was incorporated in 1902 and is headquartered in Dorval, Canada.

History

Bombardier Recreational Products

In January 1934, a blizzard prevented Joseph-Armand Bombardier from reaching the nearest hospital in time to save his two-year-old son, Yvon, who died from appendicitis complicated by peritonitis.Bombardier was a mechanic who dreamed of building a vehicle that could "float on snow". In 1935, in a repair shop in Valcourt, Quebec, he designed and produced the first snowmobile using a drive system he developed that revolutionized travel in snow and swampy conditions.

In 1937, he patented and sold 12 of the 7-passenger "B7" snow coaches. They were used in rural Quebec to take children to school, carry freight, deliver mail, and as ambulances. In 1941, Bombardier opened a factory in Valcourt.In 1942, L'Auto-Neige Bombardier Limitée was founded in Valcourt.During World War II, the Government of Canada issued wartime rationing regulations. Bombardier customers had to prove that snowmobiles were essential to their livelihood in order to buy one. The company then shifted its focus to the arms industry.In 1947, during a blizzard in Saskatchewan, the company received positive press coverage when army snowmobiles resupplied isolated radio communication towers.In 1948, the Government of Quebec passed a law requiring all roads to be cleared of snow; Bombardier's sales fell by nearly half in one year. Armand Bombardier therefore decided to diversify his business, first by producing tracked snowplows sized specifically for use on municipal sidewalks, replacing horse-drawn vehicles, then by making all-terrain vehicles for the mining, petroleum, and forestry industries.The machines had removable front skis that could be replaced with front wheels for use on paved or hard surfaces, thus providing greater utility to his large snowmobiles. In 1951, the wooden bodies were replaced with sheet steel, and these vehicles were powered by Chrysler flathead six-cylinder engines and 3-speed manual transmissions.

In the early 1950s, Bombardier focused on developing a snowmobile for 1 or 2 passengers. A breakthrough occurred in 1957 when Bombardier developed a one-piece molded rubber continuous track with enough durability to provide snow-gripping traction for lightweight vehicles. The vehicle was called the "Ski-Dog" because it was meant to replace the dog sled for hunters and trappers. However, in 1958, "Ski-Doo" was accidentally painted on the first prototype, and immediately became the popular name.The public soon discovered the great fun of speedy vehicles zooming over snow, and a new winter sport was born, centered in Quebec. In the first year, Bombardier sold 225 Ski-Doos; four years later, 8,210 were sold. Bombardier slowed promotion of the Ski-Doo line to prevent it from crowding out other company products, while still dominating the snowmobile industry against competitors Polaris Industries and Arctic Cat.

In 1963, Roski was created in Roxton Falls, Quebec as a manufacturer of composite parts for the Ski-Doo. In the 1960s, V-8 engines were added.

On February 18, 1964, J. Armand Bombardier died of cancer at age 56. Until then, he oversaw all areas of operation and controlled the research department, making all the drawings himself. The younger generation took over, led by Armand's sons and sons-in-law, reorganizing and decentralizing the company. The company adopted computer inventory, accounting, and billing. Distribution networks were improved and increased, and an incentive program was developed for sales staff. That year, a survey was mailed to Ski-Doo owners to find out how the product was being used. Germain Bombardier, who had been groomed by his father, took over the company upon his father's death in 1964. However, he quit and sold his shares in 1966 after a disagreement with other family members. Laurent Beaudoin, the son-in-law of the founder, then became president, a position he held until 1999.In 1967, the company was renamed Bombardier Limited. By that time, the snowmobiles were very useful for the Inuit.In 1968, Clayton Jacobson II invented the jet ski and the company licensed his patents to create the Sea-Doo personal watercraft.On January 23, 1969, the company became a public company, listing on the Montreal Exchange and the Toronto Stock Exchange.In 1969–1970, the standard round windows reminiscent of portholes were replaced with larger rectangular windows that provided more interior light. A change was made to the Chrysler Industrial 318 engines with the automatic Loadflite transmissions.In 1970, the company acquired Rotax, an engine manufacturer based in Gunskirchen, Austria.

In 1971, Bombardier acquired Moto-Ski. Also in 1971, Bombardier launched Operation SnoPlan, a program to promote snowmobile safety after a mounting death toll due to snowmobile accidents.In the 1970s, the company began producing Can-Am motorcycles, which included Rotax engines.In 2003, the company sold Bombardier Recreational Products to a group of investors: Bain Capital , Bombardier Family and Caisse de dépôt et placement du Québec for $875 million.


Mission
We look far ahead to see and shape the future of mobility.

Vision
Our goal is to continuously find better ways to bridge distances and bring people together. Across cities, countries and the globe.

Key Team

Mr. Daniel Patrick Brennan (Sr. VP of People & Sustainability)

Mr. Peter Likoray (Sr. VP of Sales for New Aircraft)

Mr. Jeffrey E. Hutchinson (Chief Information Officer)

Mr. Patrick Ghoche CFA (VP of Corp. Strategy & Public Affairs and Investor Relations)

Mr. Francis Richer de La Fleche (VP of Financial Planning & Investor Relations)

Ms. Annie Torkia Lagace (Sr. VP, Gen. Counsel & Corp. Sec.)

Mr. Martin LeBlanc (VP, Chief Ethics & Compliance Officer)


Recognition and Awards
Bombardier has won numerous awards for its innovations and for its commitment to safety, including the Smithsonian National Air and Space Award, the Collier Trophy, and the International Air Transport Association's Eagle Award for Safety Leadership.

References
Bombardier
Leadership team

Mr. Éric Martel (Pres, CEO & Director)

Mr. Bart W. Demosky (Exec. VP & CFO)

Mr. Paul Sislian (Exec. VP of Operations)

Products/ Services
Aerospace, Automotive, Manufacturing, Transportation
Number of Employees
1,000 - 20,000
Headquarters
Montréal, Quebec, Canada
Established
1942
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
BBD-B.TO
Social Media
Wed Feb 28 2024
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