Insights

Top Prospects: Leading innovators from the Class of 2019

First row: Christina Chung (Gustavo Tolevo), Ashna Misra (Clare Kiernan), Laura Machado (Ahmed El-Zein). Second row: Jiakai Li, Vasundhara Gautam. Third row: Yuqing Du (Clare Kienan), Shweta Mogalapalli (Vivek Mogalapalli), Cole Powers. Fourth row: Jude Arokiam, Alyssia Jovellanos.

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Briefing

Purolator to build ‘super hub’ in Toronto amid e-commerce growth

The shipping company is investing $330 million to build a 60-acre distribution centre, which it said will triple its package-delivery capacity. It plans to invest a total of $1 billion to update its fleet and expand its distribution centres in the next five years to compete with e-commerce companies. (Reuters)

Mitsubishi Heavy Industries buys Bombardier’s Canadair Regional Jet program

Mitsubishi will pay US$550 million and assume about US$200 million in liabilities to take over Bombardier’s Canadair Regional Jet (CRJ) series. The Tokyo-based company will take over the maintenance, support, refurbishment, marketing and sales activities for the jets. Bombardier will keep the main CRJ manufacturing facility in Mirabel, Que., along with the facility’s roughly 375 employees in order to build 42 jets that have already been ordered. That backlog is expected to be cleared by the end of 2020; the company hasn’t said what will happen with the facility and its workers after that point. (Globe and Mail)

Futurewei Technologies separating itself from parent company Huawei

Futurewei Technologies has banned the use of Huawei’s logo and name, migrated to a separate IT system and is preventing its parent company’s employees from entering its offices. Huawei’s U.S. R&D subsidiary has employees in Seattle, Chicago and Dallas, and its own partnerships with universities. It has applied for more than 2,400 patents in the U.S., according to the World International Patent Organization’s database. (Reuters)

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