Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

LatA(c)coAre to Acquire Canadian Airframe Structures Manufacturer Avcorp.

Document Cited in Related
Vincent

MANews-(C)2009-2022

France-based aerospace supplier LatÃ(c)coÃre (PAR: LAT) has entered into a definitive arrangement agreement to acquire all of the issued and outstanding common shares in the capital of Canadian airframe structures manufacturer Avcorp Industries Inc, the group said.

Avcorp is an aerostructures supplier of wing sub-assemblies, large scale composite parts and after-market services, with exposure to key platforms including F-35, B737 Max, B767 and B787. Avcorp generated CDN 99m in revenue in 2021 with over 450 skilled employees.

The company has three major manufacturing sites in Delta, British Columbia (metallic and composite aerostructures assembly and integration), Gardena, California (advanced composite aerostructures fabrication capabilities) and Burlington, Ontario (structural component repair services for commercial aircrafts).

The acquisition of Avcorp is part of LatÃ(c)coÃre's 2025 roadmap to achieve profitable growth as an active consolidator of the aeronautics industry.

In this context, the company has already completed a number of acquisitions in 2021 (Bombardier EWIS, TAC and SDM) as well as announced the acquisition of MADES, which is subject to the approval by the Spanish Council of Ministers pursuant to defence foreign direct investment regulations and is expected to close during 2Q22.

Under the terms of the deal, LatÃ(c)coÃre has agreed to acquire all of the issued and outstanding common shares of Avcorp for consideration of CDN 0.11 in cash per Avcorp share.

The...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT