Canada Names Emerson to Review Aerospace Industry Subsidies

Canada’s federal government is reviewing its financial support for the nation’s $22 billion aerospace industry, naming former industry minister David Emerson to lead the process.

Emerson, also a former Canfor Corp. (CFP) chief executive officer, will be chairman of a panel seeking to “produce concrete, fiscally-neutral recommendations on how federal policies and programs can help maximize the competitiveness of Canada’s aerospace and space sectors,” the government said in a statement today. The panel will submit a report to Industry Minister Christian Paradis by December, the government said.

The review may affect support for companies such as Montreal-based planemaker Bombardier Inc. The global supply chain, technology and market environment for the aerospace and space industries are changing rapidly, the government said.

Emerson, 66, also served as Canada’s foreign-affairs and trade minister before retiring from politics in 2008.

To contact the reporters on this story: Frederic Tomesco in Montreal at tomesco@bloomberg.net; Andrew Mayeda in Ottawa at amayeda@bloomberg.net

To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net

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