LATECOERE aeronautics group sets up operations in Greater Montréal

New Canadian subsidiary expects to create 60 jobs

MONTREAL, Sept. 22, 2011 /CNW Telbec/ - French aeronautics group LATECOERE—which specializes in three complementary fields of activity: aerostructures, wiring systems, and engineering and services —is pursuing its international development by setting up a new Canadian subsidiary in Greater Montréal. LATECOERE, which has received strategic support from Montréal International to set up in the region, plans to hire 60 employees by 2014. This investment was announced at the Québec Aerospace Association Annual Convention.

This expansion of LATECOERE Group outside of the European continent is being carried out through its subsidiary LATecis and will enable it to strengthen its relationship with its principal Canadian customer, Bombardier, for which it has already designed aerostructures. LATecis Canada will also be responsible for developing new business relationships with numerous companies present in Canada in the aeronautics, space, defence and transportation sectors.

"We have set some very ambitious development objectives for North American markets, which offer attractive growth opportunities for all our areas of expertise," said Hervé Schembri, President and CEO of LATecis. "We foresee exciting near-term opportunities for two of our main services; engineering design for large-scale aeronautics companies and supply of turnkey systems such as assembly line tools and test benches for the industry," he added.

"This new Canadian operation puts us in an excellent position for future development in North America," added François Bertrand, President and CEO of LATECOERE. Commenting on behalf of Bombardier, Angelo Sinicropi, Director Supply Chain, Commercial Aircraft, CSeries Program, added: "We see the arrival of LATECOERE and its subsidiary LATecis in Canada as a plus. Their presence in the metropolitan region demonstrates their intention to continue working closely with Bombardier on current projects."

Jacques Saada, President and CEO of the Québec Aerospace Association, is delighted with the announcement. "I am particularly pleased that this announcement was made during our annual convention, which is further proof of LATECOERE's desire to build links and work with the entire Québec aerospace supply chain," he explained.

Montréal International, whose mandate includes attracting foreign investment in Greater Montréal, assisted the company at every key project step. "The arrival of this aerospace leader confirms the attractiveness of our region and demonstrates its dynamism in a strategic sector of our economy," said Montréal International President and CEO, Jacques St-Laurent. "LATecis will benefit from the numerous advantages offered by Greater Montréal's aerospace cluster, including the presence of prestigious multinationals, a highly qualified workforce and competitive operating costs," he added.

Latecis' new Canadian operation will be headed by Éric Giguère, an industrial engineering graduate of École Polytechnique de Montréal who also holds a Finance for Senior Executives certificate from Harvard Business School.

About LATecis
LATecis (www.latecis.fr), a LATECOERE Group subsidiary, is a leading European leader in its market. The company has operations in Toulouse, Nantes, Bordeaux, Paris, Madrid, Seville, London, Bucharest, Hamburg and Greater Montréal. It comprises several teams that place their technical and operational know-how at the disposal of industrial companies in the aeronautics, space, defence and transportation sectors.

About LATECOERE
A Tier 1 international partner of the world's major aeronautics firms (Airbus, Embraer, Dassault, Boeing and Bombardier), LATECOERE is active in all aeronautics segments (commercial, regional, business and military aircraft) in three fields of activity:

  • Aerostructures (56% of sales): fuselage sections and doors.
  • Onboard wiring (32% of sales): cabling, avionics bays and on-board equipment.
  • Engineering and services (12 % of sales): studies, tool design and production.

The Group employs more than 3,700 people in ten countries.
Its consolidated sales volume for 2010 is €464 million and its order book based on an €/$ exchange rate of 1.35, was €2.3 billion at December 31, 2010.

LATECOERE, business corporation with capitalization of €17,219,994 divided into 8,609,997 shares with a nominal value of €2, is listed on Euronext Paris - Compartment C.
ISIN code: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP

About Montréal International
Montréal International (MI) was created in 1996 as a result of a private/public partnership. Its mission is to contribute to the economic development of metropolitan Montréal and to enhance its international status. Its mandates include attracting foreign investment, international organizations and qualified foreign workers, as well as promoting the competitive and international environment of Greater Montréal. Montréal International is funded by the private sector, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community), the City of Montréal and the Governments of Canada and Québec.

Since its creation, Montréal International has helped to attract more than $8 billion in foreign investment to Greater Montréal. From these investments, close to 45,000 jobs have been created or maintained. To date, MI's activities have also allowed almost half of the 70 international organizations to establish themselves in the city and, attract and retain, close to 5,500 qualified foreign workers. To learn more, please visit MI Web site at: www.montrealinternational.com.

SOURCE MONTREAL INTERNATIONAL

For further information:

Éric Giguère
General Manager
LATecis Canada
Tel.: +1 514-600-4258
Cell: +1 514-241-4570
egiguere@latecis.ca
    Céline Clément
Communications Advisor
Montréal International
Tel.: +1 514-987-8191
Cell: +1 514-892-4030
celine.clement@montrealinternational.com

 

Organization Profile

MONTREAL INTERNATIONAL

More on this organization

LATECOERE GROUP- LATECIS

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890