MONTREAL — Bombardier Inc. said it will set up its rail division as a separate publicly traded company, while retaining majority ownership.
Bombardier Transportation is one of the world’s largest suppliers of subway, streetcar and other rail equipment for mass transit systems and accounts for about half the parent company’s overall business.
There has been public speculation for months that Bombardier Transportation could be sold as part of a strategic review announced after its Montreal-based parent installed a new leadership team.
Bombardier is the only global company to operate in both the aerospace and rail industries.
Bombardier Aerospace has been struggling to launch the CSeries, a new generation of passenger jet for commercial airlines that’s undergoing test flights prior to going into commercial service.
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