Despite rumours, Bombardier says its rail division is not for sale.
The company won't comment on a Bloomberg news article that says China's CSR Corp. and CNR Corp. are considering a controlling stake in Bombardier's rail division, which would include its Thunder Bay plant.
Spokesperson Isabelle Rondeau said the company will only say that it's not for sale.
Unifor local 1075 president Dominic Pasqualino said that echos a letter the union got earlier this month from Bombardier Transportation president and CEO Lutz Bertling stating that the company was not for sale. But in February Bertling told shareholders that the company would explore the possibility of industry consolidation.
"I don't know what that means by industry consolidation but right now he's saying it's not for sale," Pasqualino said. "I don't know what that really means."
The company could get as much as $5.4 billion for its rail units, one of the only profitable parts of Bombardier.
"Certainly we are the bread and butter that are paying Bombarider's bills at this point in time," Pasqualino said.
The local plant has had numerous owners over the years. Pasqualino said whatever happens, he hopes that the province continues to use Ontario workers, including Thunder Bay, in future contracts.
(With files from CKPR Radio)
