Latécoère completes the acquisition of Bombardier's Electrical Wiring & Interconnection Systems business in Querétaro (Mex...
February 16 2021 - 02:00AM
Business Wire
Regulatory News:
Latécoère (Paris:LAT) today announced that the company has
completed its acquisition of Bombardier's Electrical Wiring and
Interconnection Systems (EWIS) business in Querétaro, Mexico. The
two companies have also entered into a long-term supply agreement
under which Latécoère will continue to provide Bombardier with EWIS
systems from this site for all Bombardier platforms including its
Global and Challenger aircraft. This acquisition enables Latécoère
to expand its customer portfolio by serving beyond Bombardier other
customers such as Airbus Canada, MHIRJ and Avcorp.
The EWIS business in Queretaro specializes in electrical
harnesses and sub-assemblies necessary for the production of EWIS
systems. Annual revenue for this business is estimated at
approximately US$60 million. This acquisition also enables
Latécoère to expand its customer portfolio and strengthen its order
book by serving customers from this site.
"We are pleased to finalize this acquisition and at the same
time enter into a long-term supply agreement with Bombardier. With
this transaction, Latécoère strengthens its industrial presence
internationally and increase its proximity to its customers. It
also signals our continued participation in the global
consolidation of the aerospace industry," said Philip Swash,
Chief Executive Officer of Latécoère.
“The Bombardier team looks forward to working with Latécoère
toward a seamless integration as we continue to build on the
successes of both our companies,” said Paul Sislian, Executive
Vice President, Operations and Operational Excellence.
Latécoère is acquiring the Querétaro site on the basis of an
enterprise value of US$45 million, and will benefit from the added
value and significant experience of the Querétaro EWIS team. The
transaction will not affect Bombardier's remaining operations in
Querétaro, where it will continue to produce major structures for
Bombardier aircraft such as the rear fuselage of the Global family
of business jets - including the company's flagship Global 7500
aircraft - which is the most complex aircraft component
manufactured in Mexico.
About Latécoère
As a "Tier 1" international partner of the world's major
aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault,
Embraer and Mitsubishi Aircraft), Latécoère is active in all
segments of the aeronautics industry (commercial, regional,
business and military aircraft), in two areas of activity:
- Aerostructures (55% of turnover): fuselage sections and
doors.
- Interconnection Systems (45% of turnover): wiring, electrical
furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,169 people in 13
different countries. Latécoère, a French limited company
capitalised at €189,637,036 divided into 94,818,518 shares with a
par value of €2, is listed on Euronext Paris - Compartment B, ISIN
Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP
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version on businesswire.com: https://www.businesswire.com/news/home/20210215005451/en/
Latécoère Michel Abaza / Chief Financial Officer Tel.:
+33 (0)5 61 58 77 00 michel.abaza@latecoere.aero Thierry Mahé /
Director of Communications Tel.: +33 (0)5 61 58 77 00
thierry.mahe@latecoere.aero Taddeo Michael Henson / Investor
Relations Tel. : +44 (0) 7551 720441 michael.henson@taddeo.fr
Pierre-Jean Le Mauff / Media Relations Tel. : +33 (0)7 77 78 58 67
teamlatecoere@taddeo.fr Bombardier
Anna Cristofaro / Manager, Communications Tel. : +1 514 855 8678
anna.cristofaro@aero.bombardier.com
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