Latécoère Announces the Acquisition of Shimtech de Mexico
September 16 2021 - 11:45AM
Business Wire
Regulatory News:
Latécoère (Paris:LAT), a leading partner of major international
aircraft manufacturers, today announces the signing of the
acquisition of Mexico-based Shimtech de Mexico (SDM) from Avantus
Aerospace Ltd. Following the acquisition of Technical Airborne
Components (TAC) at the end of August, this is the second external
growth transaction since the completion of the Group’s capital
increase at the beginning of August.
SDM is a supplier in advanced, precision engineered structural
composite assemblies and components, for the aerospace industry.
The acquisition of SDM, with its 80,000 square foot facility in
Hermosillo Mexico, will accelerate the development of Latécoère's
composites production capabilities in North America, better
positioning the Latécoère Group for future market developments.
Latécoère will integrate SDM into its existing co-located
operations in Hermosillo further growing its operational cluster of
excellence in Mexico.
Thierry Mootz, Chief Executive Officer of Latécoère
stated: "I am delighted that Shimtech de Mexico is joining
Latécoère today. We are strengthening our activities and skills in
Mexico in order to provide vertically integrated solutions for
future platforms, and better serve North American customers. This
investment follows on from our recent acquisitions of TAC in
Belgium and Bombardier’s EWIS business, further reaffirming our
ambition to be a global leader in the aeronautics industry.”
Latécoère will provide further market disclosure upon closing of
the transaction, which is subject to a number of commercial and
regulatory condition precedents.
___________________________________________________________________________
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 4,172 people in 13
different countries. Latécoère, a French limited company
capitalised at €132,745,925 divided into 530,983,700 shares with a
par value of €0.25, is listed on Euronext Paris - Compartment B,
ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg:
LAT.FP.
___________________________________________________________________________
About Shimtech de Mexico
SDM was established in Sonora, Mexico, in 2016 as part of the
Avantus Aerospace Ltd. group’ strategic expansion. It is a supplier
in advanced, precision engineered structural composite assemblies
and components as well as a specialist in high strength aerospace
fasteners for the aerospace industry. The building houses two large
autoclaves, enabling fabrication of composite structures up to 50
feet (15m) long.
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version on businesswire.com: https://www.businesswire.com/news/home/20210916005606/en/
Taddeo Antoine Denry / Investor Relations +33 (0)6 18 07
83 27
Marie Gesquière / Media Relations +33 (0)6 26 48 97 98
teamlatecoere@taddeo.fr
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