FIGEAC AERO AWARDED BIGGEST CONTRACT YET BY SPIRIT AEROSYSTEMS
The Figeac Aéro Group (ticker code FGA), a reference partner to major aerospace manufacturers, announced today the signing of a contract with Spirit AeroSystems and closed a deal for the production of several primary parts and sub-assemblies for the Airbus A350 XWB and Boeing B737, B747-8, B767 and B777.
Spirit AeroSystems selected Figeac Aéro Group for the production of small, medium and large-sized aluminum and titanium mechanical components together with sub-assemblies, thanks in good part to the successful strategy deployed by the Group with its plant relocation in Wichita. The Group's industrial and commercial presence in the United States was a decisive factor in landing this historic deal for the Airbus and Boeing flagship programs.
This long-term agreement will make its contribution to the Figeac Aéro Group's revenue fully felt come 2019 as the deal gradually gains momentum. Furthermore, it will call on the Group's wide range of expertise both at sites in France (Figeac and Saint Nazaire) and internationally (the United States, Morocco and Tunisia).
Figeac Aéro will allocate new investments and create new jobs as scheduled in the company's 2020 growth plan.
"We are very proud of the fact that Spirit AeroSystems has renewed its faith in us, strengthening Figeac Aéro's position as a front-running player in the aerospace industry. This new deal endorses our deployment strategy in North America, which accounts for over 60 percent of the Aerospace & Defense market[1]. Based on the latest production rates announced, the new deal consolidates our revenue target, expected by March 2020, of between €650 and €750 million, whilst maintaining our current margin levels[2]", declared Jean-Claude Maillard, chief executive and founder of Figeac Aéro.
The FIGEAC AÉRO Group, a leading partner of major aerospace manufacturers, specialises in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. An international group with a workforce of nearly 3,000 employees, FIGEAC AÉRO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2016, the Group reported annual revenue of €252.3 million. Its year-end order backlog was €3.9 billion.
FIGEAC AERO
Jean-Claude Maillard
Chief Executive Officer
Phone: +33 (0) 5 65 34 52 52
ACTUS Finance & Communication
Corinne Puissant
Analyst/Investor Relations
Phone: +33 (0)1 53 67 36 77
[email protected]
Jean-Michel Marmillon
Press Relations
Phone: +33 (0)1 53 67 36 73
[email protected]
[1] Source: PWC Aerospace & Defense 2014 review (A&D market worth $US 729.2 billion in 2014 – of which 4% in Asia)
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Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-47121-FIGEAC-CONTRAT-SPIRIT-VDEF-UK.pdf
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Source: Actusnews
