The Figeac Aéro Group (ticker code; FGA), a reference partner of leading aerospace industry companies, reviews the growth of its industrial footprint.

FIGEAC, A EUROPEAN CENTRE OF EXCELLENCE
The Factory of the Future based at the Figeac site in the Lot department with a floorspace of 7,500 sq.m., is dedicated entirely to the production of parts for the LEAP programme, the new generation engine from the Safran Group. Work on the plant is nearing completion and the production of the first parts has started up.

This factory will be one of the most modern in Europe with 10 automated in-line machining units, a robotised metal part deburring system, an automated washing unit and an automatic 3-dimensional part control system.

The factory will be a model of success in terms of technology, process and performance.
Commissioning will ultimately lead to the creation of around 40 jobs.

FIGEAC WICHITA, A CENTRE OF EXCELLENCE ON THE AMERICAN CONTINENT
This plant, offering genuine strategic appeal for the Figeac Aéro Group from both an industrial and business standpoint, constitutes a production facility in the dollar zone for the manufacture of parts and sub-assemblies at the heart of the world capital of the American aerospace industry.

As announced after the acquisition, the construction of a new building of 6,000 sq.m. is now being finalised in order to house, amongst other facilities, a large-dimension machining unit which will be operational from November 2016 onwards. The new area will lead to the doubling of existing production floorspace.

This subsidiary has reported high growth in business of 36% for the financial year ended March 2016. The plant's workforce has grown more than 3-fold in the space of 2 years.

PRODUCTION UNITS IN BEST-COST ZONES, A TOKEN OF COMPETITIVENESS
Figeac Aéro Tunisie

The Group's first best-cost site has just completed the construction of an extension of
6,000 sq.m. in order to grow production capacities for machining and the manufacture of small sub-assemblies. Opened in 2011, the site makes a positive contribution to the Group's EBITDA[1] margin.

Figeac Aéro Maroc
After Tunisia, the Figeac Aéro Group opened a site in Morocco with a new production unit designed to enhance competitiveness. The start-up of initial production in September 2015 was accompanied by an active recruitment programme with the 100th new employee being hired this month.

Figeac Aéro Maroc is dedicated to the machining of aeronautical parts and sheet metal, and is also engaged in surface treatment activity.

Figeac Aéro Mexico
As announced, the Figeac Aéro Group has opened a site in Mexico, initially housed in temporary premises.

The actual plant is currently in its final construction phase at Hermosillo in the State of Sonora, and will be operational from August 2016. This new production capacity of 3,000 sq.m. is currently dedicated to the production of light alloy and hard metal detail parts, and of small sub-assemblies for the doors of the Boeing 787 Dreamliner.

The Group's strategy engaged since 2011, aimed at locating sites as close as possible to clients, is now materialising in compliance with the development plan. The Group's success lies with industrial excellence and the capacity to relocate both close to clients and in the dollar zone (United States, Europe) while improving productivity and price competitiveness through facilities located in best-cost zones (Tunisia, Morocco and Mexico).

These achievements are in line with the investment programme of between €100 and
 €150 million already announced by the Group for the period from March 2016 to March 2019.

Backed by a strong industrial footprint, the Group intends to pursue its growth dynamic and is maintaining its ambitious objectives for March 2020 with revenue of between €650 and €750 million[2], i.e. close to a 3-fold increase in business over 4 years, accompanied by a stable EBITDA margin at current levels.

Next date: 5 July 2016 (before start of trading): annual results 2015-2016
 

ABOUT 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 over 1,900 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 €252.6 million. Its year-end order backlog was €3.9 billion.

 

 
 
 
FIGEAC AÉRO
Jean-Claude Maillard
Chief Executive Officer
Phone: 05 65 34 52 52
 

 

 
 
ACTUS Finance & Communication
Corinne Puissant
Analyst/Investor Relations
Tel.: +33 (0)1 53 67 36 77
cpuissant@actus.fr
   
   

Jean-Michel Marmillon
Press Relations
Tel.: +33 (0)1 53 67 36 73
jmmarmillon@actus.fr

DISCLAIMER
This press release does not constitute and should not be considered as a public offering, an offer to sell or subscribe, or a solicitation of an order to purchase or subscribe, or as a means of soliciting public interest in a public offering.

This press release has been issued for information purposes and not as a prospectus within the meaning of Directive 2003/71/ EC of the European Parliament and of the Council of 4 November 2003 as amended, notably by Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010, as amended, as transposed by each Member State of the European Economic Area (the “Prospectus Directive”).

As regards Member States of the European Economic Area States other than France that have transposed the Prospectus Directive (the “Member States”), no action has been undertaken or will be undertaken to make a public offering of the shares of the Company requiring the publication of a prospectus in any such Member State. The shares may therefore only be offered in these States: (a) to legal entities classified as qualified investors as defined in the Prospectus Directive; or (b) in other cases that do not require the publication by FIGEAC AERO of a prospectus pursuant to Article 3(2) of the Prospectus Directive.

This press release has not been issued and has not been approved by an authorised person within the meaning of Article 21(1) of the Financial Services and Markets Act 2000. Accordingly, this press release is intended solely for (i) persons outside the United Kingdom, (ii) investment professionals falling within the scope of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, (iii) persons falling within the scope of Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, or (iv) any other persons to whom this document may be communicated in accordance with the law (the persons mentioned in paragraphs (i), (ii), (iii) and (iv) together being referred to as “Qualified Persons”). The securities are intended solely for Qualified Persons; and no invitation, offer or agreement relative to the subscription, purchase or other means of acquiring securities may be proposed or made other than to Qualified Persons. Persons other than Qualified Persons may not act or rely on this press release and the information contained herein. This press release is not a prospectus approved by the Financial Services Authority or any other regulatory authority in the United Kingdom within the meaning of Section 85 of the Financial Services and Markets Act 2000.

This press release does not constitute an offer of securities or a solicitation to purchase or subscribe for securities or a solicitation to sell securities in the United States. The securities referred to herein have not been and will not be registered pursuant to the US Securities Act of 1933, as amended (the “US Securities Act”), and may not be offered or sold in the United States without registration or exemption from the registration requirement imposed under the US Securities Act. The Shares have not been and will not be registered pursuant to the US Securities Act, and FIGEAC AERO does not intend to make any public offering of its shares in the United States of America.

 

[1] EBITDA= recurring operating income + depreciation and amortisation +/- provisions.

[2] Based on €/$ parity of 1.18


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FIGEAC AÉRO, INDUSTRIAL PERFORMANCE AS A DRIVER FOR GROWTH

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