Latecoere to acquire Bombardier’s Electrical Wiring Interconnection System Business in Queretaro:
3 January 2020: Latecoere and Bombardier have signed an agreement in which Latecoere will take over Bombardier's electrical wiring interconnection system (EWIS) assets in Queretaro, Mexico.
The two companies also finished a long-term supply agreement that will see Latecoere supply Bombardier with electrical wiring interconnection systems.
The transaction is subject to customary conditions and approvals and will close in the first half of 2020.
Around 700 skilled employees are dedicated to the manufacture of EWIS at Bombardier's facility in Queretaro. According to the long-term supply agreement, Latecoere will continue to supply the EWIS for all Bombardier Aviation platforms, including Global, Challenger and Learjet aircraft from the current location to support Bombardier's requirements. The annual turnover of the business is expected to be around USD 80 million.
"This acquisition reflects our willingness to emerge as a leading player in the global consolidation movement in the aeronautics sector," said Yannick Assouad, CEO of Latecoere. "We keep deploying our manufacturing footprint on an international scale with a strong desire to strengthen our presence in the areas closest to our customers," she added.
"This agreement exemplifies Bombardier's focus on streamlining its activities to foster a strong and efficient aviation franchise," said Paul Sislian, Chief Operating Officer, Bombardier Aviation. "With Latecoere's reputation for excellence, this new partnership will result in a winning combination for both our companies."
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