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Canada’s Bombardier Inc. announced a major restructuring today (April 3), but its finance subsidiary, Bombardier Capital, will continue providing inventory finance loans to RV dealers, according to a company spokeswoman.
Bombardier, which began in the 1940s as a snowmobile manufacturer and evolved into a major commercial airline manufacturer and defense contractor, announced today it will attempt to sell its Recreational Products division, which includes the Johnson and Evinrude brands of outboard boat engines and Sea-Doo brand personal watercraft.
Although Bombardier Capital, based in Colchester, Vt., will leave some businesses, it will remain in RV and boat dealer inventory finance, said Denise Nagelschmidt, spokeswoman for the finance company.
Bombardier Capital left RV retail lending in November 2001 and it no longer is involved in any type of retail lending, Nagelschmidt added.
In Bombardier’s statement, issued today, the company reported that its finance subsidiary’s “origination activities will now be concentrated on inventory financing and interim financing for Bombardier Aerospace regional aircraft.”