Bombardier is selling its aerostructures business to US-based Spirit AeroSystems, a deal which includes its wing operation in Belfast and other facilities in Morocco and the USA.
The agreement is part of Bombardier's strategy to divest its commercial aircraft activities in favour of focusing on business aviation and rail.
Bombardier says the transaction comprises a $500 million cash consideration and the assumption of liabilities, with a total carrying value of more than $700 million.
"We are confident that Spirit’s acquisition of these aerostructures assets is the best outcome for customers, employees and shareholders," says Bombardier chief Alain Bellemare.
Spirit AeroSystems will take over the Airbus A220 wing plant in Belfast, as well as Bombardier's aerostructures and engineering site in Casablanca and its maintenance division in Dallas.
It will also continue to supply structures, components and spares to the Canadian airframer's business jet lines.
Bombardier puts the full-year revenues for the divested businesses at around $1 billion, and says they will generate an adjusted EBITDA margin of around 12%.
It says the sale, set to close in the first half of next year, "streamlines" its aerostructures activities on its core operations in Montreal, Mexico and Texas, while reinforcing its liquidity.