U.K. Hands Bombardier Rail $2.3 Billion Brexit Jobs Boost
- Funding will support English plant’s monorail order from Egypt
- Derby site faces uncertainty after EU split, Alstom takeover
Photographer: Simon Dawson/Bloomberg
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Britain granted Bombardier Inc.’s train unit 1.7 billion pounds ($2.3 billion) in export funding, bolstering an English plant ahead of a looming merger with France’s Alstom SA.
Bombardier will use the funds to invest in the factory in Derby after winning a 2.4 billion-euro ($2.9 billion) contract to build trains for new monorail lines in Egyptian capital Cairo, according to a statement Wednesday. The loan guarantee will directly support about 100 jobs at the plant, which employs 2,000 people.