Brief: Figeac Aero Completes Redeployment Of Mexican Production Assets

Latecoere SA

03/10/2022 07:14

Oct 3 (Reuters) - Figeac Aero  FGA.PA :
    * GROUP ANNOUNCED ON FRIDAY COMPLETION OF REDEPLOYMENT OF
MEXICAN
PRODUCTION ASSETS
    * WAS ABLE OVER SUMMER TO COMPLETE ACQUISITION OF INDUSTRIAL
ASSETS PREVIOUSLY OWNED BY U.S. COMPANY KAMAN AEROSPACE GROUP
INC. IN MEXICAN STATE OF CHIHUAHUA
    * NEW FACILITY WILL GRADUALLY REPLACE ONE LOCATED AT
HERMOSILLO,
WILL ALSO ENABLE GROUP TO DOUBLE COMPLEX SHEET METAL
MANUFACTURING CAPACITY IN NORTH AMERICA, IN ACCORDANCE WITH ITS
GROWTH TARGETS FOR REGION
    * IN THE MEANTIME, COMPLETED ON FRIDAY SALE OF HERMOSILLO
(MEXICO)
MANUFACTURING SITE TO LATECOERE  LAEP.PA 
    * COMPANY ALREADY PLANS TO ALLOCATE SOME OF NET PROCEEDS
FROM
HERMOSILLO DISPOSAL TO STARTING UP MECHANICAL PARTS MACHINING
UNIT IN CHIHUAHUA TO EFFECTIVELY MEET NEEDS OF ITS NORTH
AMERICAN CLIENTS
    * REDEPLOYMENT FORMS PART OF GROUP'S ROUTE 25 PLAN AND WILL
BRING
IT CLOSER TO MEETING FY 2024/25 TARGETS

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDL6JKlZz
 Further company coverage:  FGA.PA  
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