Sale of Latecoere’s Electrical Wiring and Interconnection Systems Business in Querétaro (Mexico) to Bombardier
07 March 2023 - 6:30PM
Business Wire
Regulatory News:
Latecoere (Paris:LAT), a tier 1 partner to major international
aircraft manufacturers, announces today that, in the best interest
of both Bombardier and Latecoere, it has entered into an agreement
whereby Bombardier will purchase the Electrical Wiring and
Interconnection Systems (EWIS) business in Querétaro, Mexico.
Bombardier will remain an integral customer of the Latecoere
Group in North America and Latecoere will continue to develop its
own EWIS activities from Hermosillo, Mexico, within its co-located
aerostructures and wiring site, where it can better leverage its
dual aerostructures and EWIS capabilities to meet the growing
requirements of its expanding North and South American aerospace
client base.
The closing of this transaction is targeted for Q2 2023, subject
to satisfaction of customary conditions for a transaction of this
nature.
In parallel, Latecoere informs that it has entered into
discussions with its stakeholders including its lenders, with a
view to enhancing the Group’s overall capital structure in relation
to its current loans and PGEs (Prêts Garantis par l’Etat), so as to
better position itself to face the post COVID economy, including
supply chain and inflationary disruptions.
Latecoere will update the market on its progress with the
discussions with its stakeholders in due course.
About Latecoere
As an international group and "Tier 1" partner of the world's
leading aircraft and spacecraft manufacturers (Airbus, Boeing,
Bombardier, Dassault Aviation, Embraer, Lockheed Martin), Latecoere
serves the aerospace sector with innovative solutions for a
sustainable world. The Group operates in all segments of the
aerospace industry (commercial, regional, business and military
aircraft), in two business areas:
- Aerostructures (46% of sales): fuselage sections and
doors.
- Interconnection Systems (54% of sales): wiring, electrical
furniture and onboard equipment.
As of December 31, 2021, the Group employed 4,764 people in 14
countries. Latecoere, a public limited company with a capital of
€133,912,589.25 divided into 535,650,357 shares with a par value of
€0.25, is listed on Euronext Paris - Compartment B, ISIN Code:
FR0000032278 - Reuters: AEP.PA - Bloomberg: AT.FP
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version on businesswire.com: https://www.businesswire.com/news/home/20230306005903/en/
Thierry Mahé – Group Communication Director
LatecoereGroupCommunication@latecoere.aero +33561587784
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