LATECOERE : Latécoère Group opens a production facility in Mexico
Latécoère Group is going to open a facility in Mexico to meet the growth of its North American business and to be closer to its customers.
The Group who plans to hire 200 employees in France in 2012, will through the creation of this new site increase its existing production capacities located in Europe, Tunisia and Brazil, by setting up a North American industrial platform common to its Interconnexion Systems and Aerostructures lines, that will produce onboard wiring harnesses and doors.
The Group settles in Hermosillo in Sonora State, with production planned to start during the 2nd half of 2012. Based on projected delivery rates announced by aircraft manufacturers, the site is expected to employ about 400 people by 2015.
The new plant opens in a conjuncture of strong growth in the aeronautical sector; it will contribute to the rapid development of North American business - which accounted for 18% of total Group sales in FY 2011 - while reducing the company's exposure to US dollar.
As a tier one partner to major international aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault and Embraer), the Group is thus strengthening its capacity to support its clients' global growth by expanding its industrial footprint.
François Bertrand, Chairman of the Management Board, stated, "This new site marks a significant step in the Group's growth strategy. Development of our Mexican production facility will help to address the rapid growth of our North American clients' business".
Latécoère is a tier 1 partner to major international aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault and Embraer), in all segments of the aeronautical market (commercial, regional, corporate and military aircraft), specializing in three fields:Aerostructures (59% of total revenue): fuselage sections and doors. Interconnexion systems (27% of total revenue): onboard wiring, electrical harnesses and avionics bays. Engineering and Services (14% of total revenue): design, stress analysis and definition of industrial products - design, manufacturing & maintenance of tooling and special assemblies.
The Group employs 4,175 people, in 9 countries.
Latécoère had total consolidated revenues of €575.6 million in 2011 and as of December 31, 2011 its order book stood at €2.2 billion (based on a USD/EUR exchange rate of 1.35).
Latécoère, a French corporation (société anonyme) with capital of €17,219,994 divided into 8,609,997 shares with a par value of €2 per share is listed on Euronext Paris - Compartment C.
ISIN code: FR0000032278 - Reuters code: LAEP.PA - Bloomberg code: LAT.FP
Bertrand Parmentier / Executive VP & CFO
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Corinne Puissant / Investor Relations
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