Sector Update: Industrials; Bombardier Wins New Work in Spain
Industrial shares were mostly advancing in afternoon trading, and the S&P/TSX Industrials index was up 0.9%.
Bombardier (BBD-B.TO): +2.2%
Air Canada (AC-B.TO): +0.4%
Canadian Pacific Railway (CP.TO): +1.9%
WestJet (WJA.TO): -1.0%
Ritchie Bros. (RBA.TO): +0.04%
In corporate news, Bombardier Friday said it has been selected to become a partner in a major consortium that was awarded a contract valued at approximately 339 million euros (US$459 million) for the upgrade of the High Speed North-North West Corridor rail signalling in Spain.
The project which includes the lines Valladolid - Leon and Venta de Banos - Burgos is being delivered by a consortium led by Alstom that includes Bombardier and Indra.
Bombardier's share is valued at approximately 144 million euros (US$195 million). It will implement its radio-based INTERFLO 450 ERTMS (European Rail Traffic Management System) Level 2 system for the Venta de Banos - Burgos section.