Bombardier Aerospace
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Bombardier Aerospace
TAG Aeronautics

TAG Aeronautics

January 13, 2016 08:45 ET

Bombardier and TAG Aeronautics Reach Agreement to End Sales Representative and Distribution Relationship in 21 Countries

MONTRÉAL, QUEBEC--(Marketwired - Jan. 13, 2016) - As a result of a change in Bombardier's strategic approach to aircraft sales, Bombardier and TAG Aeronautics have amicably elected to end their contractual agreements. This concludes nearly 40 years in which TAG Aeronautics served as Bombardier's exclusive sales representative and distributor for new Challenger and Global series aircraft in 21 Middle Eastern and North African countries. With this strategic shift, Bombardier will be positioned to assume all sales activities previously held by TAG Aeronautics.

"We are adapting our business model to capitalize on growing market opportunities around the world and will focus on direct interaction with our customers," said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. "I would like to thank TAG Aeronautics for decades of loyal services, and for successfully helping open a key region for Bombardier aircraft."

"We appreciate Bombardier's new philosophy and sales approach in response to changing market conditions," said Mansour Ojjeh, CEO, TAG Group Limited. "I am pleased to say that reaching a mutually beneficial agreement for both parties was uncomplicated thanks to the shared respect engendered by our longstanding and very productive relationship. The TAG Group remains a Bombardier Business Aircraft customer and believes without question that Bombardier has the best product line in the business."

Over the past few decades, TAG Aeronautics and Bombardier have worked together to develop and expand the business aircraft market in the Middle East and North Africa. In the last five years, approximately one third of overall business jet deliveries in the region have been Bombardier aircraft.

"Bombardier is firmly committed to the Middle East and Africa, and our in-region sales team is well equipped to ensure all customers find the ideal business jet for their needs," said David Coleal, President, Bombardier Business Aircraft. "We are confident that private aviation in the region will continue to grow."

About TAG

TAG Group Limited is a privately owned group of companies that was formed in 1977 for the purpose of investing in and creating businesses dedicated to the development of advanced technologies and high-end products and services worldwide. Since its founding, TAG Group has invested in business sectors such as aviation, motor sports and road cars, high-end consumer products (TAG Heuer), as well as commercial and agricultural real estate.

TAG Aviation, a world leader in business aviation, provides all aspects of services to owners and users of executive jets in Europe and Asia. TAG Farnborough Airport is the most modern facility in the world exclusively dedicated to business jets. McLaren Technology Group is a high-technology company encompassing McLaren Racing and McLaren Applied Technologies. McLaren Automotive is a manufacturer of luxury, high-performance sports cars - developing and utilizing technology and learnings taken from five decades of race-winning success.

About Bombardier

Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2014, we posted revenues of $20.1 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

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