Bombardier Workers Vote In Favour Of New Contract

About 1,800 unionized workers at Canadian aerospace firm Bombardier (BBD) have voted to
approve a new five-year contract.

Members of the International Association of Machinists and Aerospace Workers have voted
73% in favour of management's latest contract offer.

The deal gives workers a pay increase of 6.5% in the first year and 3% raises in the second and
third years. Pay increases will amount to at least 1.5% for the fourth and fifth years of the
contract.

The union said the contract also guarantees no work will be outsourced during the life of the
agreement.

In a written statement, Montreal-based Bombardier, which primarily makes business jets, said it
is pleased with the outcome of the union vote.

Bombardier stock is down 48% this year at $22.62 per share.