TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
Latécoère (the “Company” or the “Group”) (Paris:LAT), a "Tier 1" international partner of the world's major aircraft manufacturers, today announces the closing of the acquisition of Malaga Aerospace, Defense & Electronics Systems (MADES).
Further to the news release dated December 13, 2021, that announced the signing of the acquisition of Malaga Aerospace, Defense & Electronics Systems from American Industrial Acquisition Corporation (AIAC) via its affiliate Malaga Electronic Systems Holding Company (MESH), Latécoère is pleased to announce the closing of the transaction. The acquisition of MADES was subject to the approval by the Spanish Council of Ministers pursuant to defence foreign direct investment regulations, which has now been secured.
MADES is developing Latécoère’s position in the US Defense market segment and will create significant synergies within Group's Interconnection Systems division as well as reinforcing the Company’s #1 position for avionic racks.
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About Latécoère
As a "Tier 1" international partner of the world's major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère serves aerospace with innovative solutions for a sustainable world. The Group is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
- Aerostructures (46% of turnover): fuselage sections and doors,
- Interconnection Systems (54% of turnover): wiring, electrical furniture and on-board equipment.
As of December 31, 2021, the Group employed 4,764 people in 14 different countries. Latécoère, a French limited company capitalised at €133,912,589.25 divided into 535,650,357 shares with a par value of €0.25, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP.