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INTERVIEW-France's Doher pursues its American Dream with drive to boost aerospace sales

Wed 24th January, 2018 4:23pm
* Wins contract with Boeing 
    * Targeting 1.5 bln euros of sales by 2022 
    * Wants to do more business in the Americas 
 
    By Cyril Altmeyer 
    PARIS, Jan 24 (Reuters) - French aerospace supplier Daher is 
targeting earning a third of its revenues in the Americas within 
five years, buoyed by its first contract with Boeing  BA.N , its 
managing director told Reuters in an interview. 
    Didier Kayat said the family-owned firm, which makes the 
landing gear hatches for Airbus'  AIR.PA  A350, projects sales 
of 1.5 billion euros ($1.9 billion) in 2022 compared with 1.1 
billion in 2017, of which 500 million would come from the United 
States, Canada, Mexico and Brazil. 
    Currently, 17 to 18 percent of Daher's revenues comes from 
the Americas. 
    Daher's rivals in its area includes the likes of GKN 
 GKN.L , Spirit Aerosystems  SPR.N  and Stelia, but Kayat felt 
his company was too centred on Europe at present. 
    "We are a bit too European, and for us to get 40 percent of 
our market ... we need to be Americans, so that in five years' 
time, Daher will be as well-known in the United States as it is 
in Europe," Kayat said on Wednesday. 
    Daher announced a contract to provide various parts for 
Boeing 787 planes on Wednesday. (http://bit.ly/2DFwHi8) 
    Daher, which also supplies engine-maker Pratt & Whitney 
Canada, U.S. jet manufacturer Gulfstream Aerospace Corporation 
and Canada's Bombardier  BBDb.TO , expects to start delivering 
thermoplastic parts to Boeing in September. 
    Kayat said the company had ample capacity to take on debt 
for its development. 
    He did not rule out either selling a stake -- France's 
state-run investment bank Bpifrance already owns 12.5 percent -- 
or an eventual initial public offering (IPO), although he 
expressed wariness about going public. 
    "But this (IPO) isn't very smart in aeronautics because 
there's an incompatibility between publishing quarterly results 
and 20-year strategy plans," he said. 
    Kayat said Daher was also targeting more work in the 
software sector, mirroring moves by other leading engineering 
and aerospace groups, such as General Electric  GE.N  which last 
month raised its stake in Swedish 3D printer firm Arcam 
 ARCM.ST . 
    ($1 = 0.8098 euros) 
 
 (Reporting by Cyril Altmeyer; Writing by Richard Lough; Editing 
by Sudip Kar-Gupta and Adrian Croft) 
 ((Email: richard.lough@thomsonreuters.com; Tel: +33 1 49 49 52 
42; Reuters Messaging: 
richard.lough.thomsonreuters.com@reuters.net)) 
 
Keywords: DAHER AEROSPACE/
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