(Boursier.com) — The Group Figeac Aero discusses the finalization of disposal and acquisition operations relating to the redeployment of its production in Mexico.
Acquisition in the State of Chihuahua
Thus, 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.
The operation with Latécoère
At the same time, Figeac Aéro closed, on September 30, 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.
From the pillars to the Route 25 plan
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:
– a turnover between 400 ME and 430 ME,
– a current EBITDA between 67 ME and 73 ME,
– positive free cash flows2 between 20 ME and 28 ME,
– a reduction in net financial debt which should be between 280 ME and 300 ME.
In accordance with the terms of the agreement on the adjustment of the financial structure, Jean-Claude Maillard will proceed in the coming days with the sale of 892,857 existing shares of the Company to Ace Aéro Partenaires at a price of 5.60 euros per share..