The FIGEAC AÉRO Group (ticker code: FGA), a leading partner of major aerospace industry companies, announces that it has been selected by MHI Canada Aerospace Inc. to produce a variety of parts and sub-assemblies for Bombardier's Global Express business jet program.
This marks the first time in its history that FIGEAC AÉRO has secured a contract with this major player in the aerospace industry.
MHI Canada Aerospace Inc. is a group company of Mitsubishi Heavy Industries – (MHI). MHI is one of the world's largest industrial groups, offering integrated, innovative solutions for numerous industries ranging from commercial aviation and transportation to power plants and gas turbines, and from industrial machinery and infrastructure to integrated aerospace and defence systems.
MHI Canada Aerospace Inc. has chosen the FIGEAC AÉRO Group to produce sheet metal parts and machined basic parts that will be manufactured in Tunisia (Best Cost site), while the final assembly of the 5 sub-assemblies will be carried out in France, an arrangement that will bolster domestic business for several years.
This new contract, which is valued at US$23M (the Long-Term Agreement), covers several sub-assemblies related to the Center Wing Box of Bombardier's Global Express.
"We are delighted to enter into this new partnership with such a formidable industrial group," said Jean-Claude Maillard, Founder and Chairman and Chief Executive Officer of FIGEAC AÉRO. "The signature of this strategic contract is a major first step that will pave the way to new cooperation opportunities with this Japanese group company while leveraging our technical expertise and shared experience."
ABOUT FIGEAC AERO
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 3,300 employees, FIGEAC AÉRO operates in France, Romania, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2018, the Group reported annual revenue of €372 million.