The FIGEAC AÉRO Group (ticker code: FGA), a leading partner of major aeronautics manufacturers, announces that it has finalized the sale and acquisition operations relating to the redeployment of its production in Mexico.
In accordance with the press release dated June 20, 2022, the Group completed this summer the acquisition of the industrial assets of the American company Kaman Aerospace Group Inc. located in the State of Chihuahua in Mexico. This production site specializes in the manufacture of complex sheet metal parts for civil and military aviation, the machining of parts from profiles and the assembly of aeronautical sub-assemblies.
This acquisition is accompanied by a service contract with Kaman Aerospace Group Inc. to provide assistance during the transition period for a period of 6 months and a subcontracting contract for the production of related parts to certain Kaman Aerospace Group Inc. markets.
In accordance with the development plan for this new site, the transfer of charges for the contracts retained as part of the sale of the assets of the Hermosillo plant has been initiated with the restarting in situ of certain production. Gradually, this new site will replace that of Hermosillo and will in particular enable the Group to double its manufacturing capacity in complex sheet metal work in North America in line with its growth ambitions in the region.
At the same time, FIGEAC AÉRO today closed the sale of the industrial site of Hermosillo (Mexico) to Latécoère. The company is already planning to devote part of the net sale price to the start-up of a mechanical parts machining unit in Chihuahua in order to better meet the needs of its North American customers.
Thus, FIGEAC AÉRO is pursuing its medium-term strategic plan based, among other things, on an optimized industrial footprint with predefined industrial plans on the France and Best Cost sites, the ramp-up of the Best Cost sites (Tunisia, Morocco and Mexico) and the reinforcement of automation on the model of factories 4.0.
A pillar of the Route 25 plan, this redeployment will contribute to achieving the objectives for the 2024/25 financial year, namely:
turnover between €400 million and €430 million,
current EBITDA
[1]
between €67m and €73m,
free cash flow
[2]
between €20m and €28m positive,
a reduction in net financial debt
[3]
which should be between €280m and €300m.
In accordance with the terms of the agreement on the adjustment of the financial structure, Mr. Jean-Claude Maillard will proceed in the coming days to the sale of 892,857 existing shares of the Company to Ace Aéro Partenaires at a price of €5.60 per share. .
ABOUT FIGEAC AERO
The FIGEAC AÉRO Group, a benchmark partner for major aerospace manufacturers, specializes in the production of structural parts in light alloys and hard metals, engine parts, landing gear and sub-assemblies. An international group, FIGEAC AÉRO is present in France, the United States, Morocco, Mexico, Romania and Tunisia. As of March 31, 2022, the Group achieved annual revenue of €282 million.
FIGEAC AERO Jean-Claude Maillard – Chairman and CEO Such. : 05 65 34 52 52 Camille Traineau |
NEWS Finance & Communication Corinne Puissant – Analyst/Investor Relations Such. : 01 53 67 36 77 / [email protected] Manon Clairet – Press Relations |
Appendix 1 – Shareholding structure after completion of the sale of existing shares by the Company by Mr. Jean-Claude Maillard to Ace Aéro Partenaires
Undiluted base |
Diluted basis | ||||||||||||
Shareholders |
Before sale to Tikehau Ace Capital |
After sale to Tikehau Ace Capital |
After conversion of all ORNANE bonds as modified in the context of the Financial Restructuring | ||||||||||
Capital | Capital (%) | Voting rights | Voting rights (%) | Capital | Capital (%) | Voting rights | Voting rights (%) | Capital | Capital (%) | Voting rights | Voting rights (%) | ||
SC MAILLARD AND SON | 12,496,000 | 30.19% | 24,992,000 | 38.91% | 12,496,000 | 30.19% | 24,992,000 | 39.46% | 12,496,000 | 24.78% | 24,992,000 | 34.53% | |
JC MAILLARD | 10,694,920 | 25.84% | 21,288,010 | 33.14% | 9,802,063 | 23.68% | 19,502,296 | 30.79% | 9,802,063 | 19.44% | 19,502,296 | 26.95% | |
Maillard family subtotal |
23,190,920 |
56.03% |
46,280,010 |
72.05% |
22,298,063 |
53.87% |
44,494,296 |
70.25% |
22,298,063 |
44.22% |
44,494,296 |
61.48% | |
Ace Aero Partners | 10,357,143 | 25.02% | 10,357,143 | 16.12% | 11,250,000 | 27.18% | 11,250,000 | 17.76% | 11,250,000 | 22.31% | 11,250,000 | 15.55% | |
Concert formed between |
33,548,063 | 81.05% |
56,637,153 | 88.18% |
33,548,063 |
81.05% |
55,744,296 |
88.01% |
33,548,063 |
66.53% |
55,744,296 |
77.03% | |
Other registered titles | 221 311 | 0.53% | 422 313 | 0.66% | 221 311 | 0.53% | 422 313 | 0.67% | 221 311 | 0.44% | 422 313 | 0.58% | |
Treasury shares | 452 704 | 1.09% | 0 | 0.00% | 452 704 | 1.09% | 0 | 0.00% | 452 704 | 0.90% | 0 | 0.00% | |
Floating | 7,170,966 | 17.32% | 7,170,966 | 11.16% | 7,170,966 | 17.32% | 7,170,966 | 11.32% | 7,170,966 | 14.22% | 7,170,966 | 9.91% | |
ORNANE Conversion | 9,030,774 | 17.91% | 9,030,774 | 12.48% | |||||||||
Total |
41,393,044 |
100.00% |
64 230 432 |
100.00% |
41,393,044 |
100.00% |
63,337,575 |
100.00% |
50,423,818 |
100.00% |
72,368,349 |
100.00% |
[1]
Current operating income + depreciation and amortization + net provisions – Before breakdown of R&D costs capitalized by the Group by type
[2]
Before financing transactions
[3]
Excluding non-interest bearing financial liabilities
This post has the “? Actusnews SECURITY MASTER” service.
– SECURITY MASTER Key:
nJxylpqYapiZyHFpZMaWb2RkbWZjkmmZlmLJmWRsk8uWm56SyWxhm8XKZnBnmmVo
– To check this key:
https://www.security-master-key.com.
Regulated information:
Inside information:
– Other press releases
Full and original press release in PDF format:
https://www.actusnews.com/news/76502-figeac-aero-cp-mexique-closing-vdef-vf.pdf
© Copyright Actusnews Wire
Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com