Latécoère Announces the Acquisition of Shimtech de Mexico

TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:

Latécoère (Paris:LAT), a leading partner of major international aircraft manufacturers, today announces the signing of the acquisition of Mexico-based Shimtech de Mexico (SDM) from Avantus Aerospace Ltd. Following the acquisition of Technical Airborne Components (TAC) at the end of August, this is the second external growth transaction since the completion of the Group’s capital increase at the beginning of August.

SDM is a supplier in advanced, precision engineered structural composite assemblies and components, for the aerospace industry. The acquisition of SDM, with its 80,000 square foot facility in Hermosillo Mexico, will accelerate the development of Latécoère's composites production capabilities in North America, better positioning the Latécoère Group for future market developments. Latécoère will integrate SDM into its existing co-located operations in Hermosillo further growing its operational cluster of excellence in Mexico.

Thierry Mootz, Chief Executive Officer of Latécoère stated: "I am delighted that Shimtech de Mexico is joining Latécoère today. We are strengthening our activities and skills in Mexico in order to provide vertically integrated solutions for future platforms, and better serve North American customers. This investment follows on from our recent acquisitions of TAC in Belgium and Bombardier’s EWIS business, further reaffirming our ambition to be a global leader in the aeronautics industry.”

Latécoère will provide further market disclosure upon closing of the transaction, which is subject to a number of commercial and regulatory condition precedents.

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Source: businesswire.com