LATECOERE : Latécoère’s works’ council unanimously accepts the Zéphyr project (Partnership with the Méaulte and Saint Nazaire Ville sites)


The Latécoère group, specialists in aerostructures and onboard wiring, was selected by Airbus last December as preferred bidder for the acquisition of the Méaulte and Saint Nazaire Ville sites. This project was put to the works' council on 28th March of this year.

With the works' council's support, this is a major step forward for the Zéphyr project.
During the general meeting of employees that followed, the Chairman of the Supervisory Board, François Junca congratulated himself on the unanimous approval obtained from the works' council (all trade unions included), since it endorses the management's strategic choices. He also thanked all the staff for their excellent work and involvement in the Zéphyr project. 

The integration of the two Airbus sites will be a major step forward in Latécoère's development since the new group thus formed will become one of the world's first-rate aerostructure suppliers.

A new group - industrially stronger:
With a critical size placing it in the international Top 10 and which will help it to provide major aerostructure components (research and production) for all the major aircraft manufacturers in the world.

A new group - technically smarter:
With expertise in one of the most complex components of an aircraft - fuselage nose section. Méaulte will bring its capabilities in aircraft fuselage nose sections and its know-how in assembly-line robotics, while Saint Nazaire Ville will provide expertise in forming and machining large fuselage panels and proficiency in the development of environmentally-friendly technologies.

A new group - financially healthier:
With improved debt ratios and less exposure to the dollar risk.

And finally, a new group bringing together staff who share the same long experience, the same passion for aircraft industry and the same objectives: successful development into composite technologies while gaining international market share.

The practical aspects of this takeover should be finalised during the second quarter.
By 2010, the new group's revenue should be around the ¤1.5 billion mark, thanks to considerable growth potential with, in the short-term, the launch of the Airbus A350XWB and, in the medium-term, that of the replacement for the Airbus A320 and the Boeing 737.
To finance this operation and to ensure the forecasted growth, the Group is preparing a capital increase operation worth ¤300 million, the details of which will be released shortly.

About Latécoère

This international group is a first-rate partner of the world's major aircraft manufacturers (Airbus, Boeing Bombardier, Dassault Aviation, Embraer). Latécoère is involved in all sectors of the aeronautical industry (commercial, regional, business and military aircraft), in three areas of activity:

  • Aerostructure (68% of revenue):  fuselage sections and doors
  • Onboard wiring and systems (27% of revenue)
  • Engineering and services (5% of revenue):  research, design and realisation of tooling.

The Group employs 3,800 people in 8 different countries.
Its consolidated revenue for 2007 come to ¤489 million and the backlog is worth ¤1,820 million.

Latécoère is listed by NYSE Euronext Paris, compartment B.
Indexes: SBF 250, CAC MID&SMALL 190, SMALL 90
Codes ISIN : FR0000032278 - Reuters : LAEP.PA - Bloomberg : LAT.FP


Jean-Pierre ROBERT
V.P. Communication
Tel.: +33 (0)561 58 77 00
Analyst & Investor Relations
Tel.: +33 (0)153 67 35 74

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