Figeac Aero Group (ticker symbol: ALFIG), a benchmark partner of major aircraft manufacturers, has announced that it has been selected by Brazilian aircraft manufacturer Embraer for the supply of large structural parts for the E2 series.
The selection of Figeac Aéro is for the manufacturing of large titanium spars (E190-E2 / E195-E2) and large aluminium tailcones for all versions (E175-E2 / E190-E2 / E195-E2).
The new E-Jets E2 will feature new wing aerodynamics, new systems and new avionics, fourth generation full fly-by-wire controls, and of course a new engine. Cutting-edge technologies will also deliver double-digit reductions in fuel consumption and CO2 emissions.
The three new models will enter into service one after another. The E190-E2 which is scheduled for 2018, will be followed by the E195-E2 in 2019 and the E175-E2 in 2020.
Jean-Claude Maillard, founder and ceo of Figeac Aéro, said "We are extremely proud that Embraer has placed its trust in our company once again and in doing so further reinforces our Group's ranking as a global leader in aerospace subcontracting. The existing E-Jet programme has been very successful and I am confident that the E2 series will follow firmly in its footsteps".
With a historically high order book for the aerospace industry, Figeac Aéro is targeting turnover of €500 million for 2017/20181, whilst keeping its EBITDA2 margin between 23 and 25%. The imminent launch of the new programme will also contribute to the development of the Group's activity beyond 2018.
Figeac Aéro will have to allocate new investments in large size hard metals machining to meet the ramp-up of the program.
1 Based on a €/US$ parity of 1.18
2 EBITDA = Current operating profit + amortization and depreciation +/- net allocations to provisions
About FIGEAC AERO
Figeac Aéro Group, partner of major aircraft manufacturers is specialized in the production of structural parts MADE of light alloys and hard metals, engine parts, landing gear and subassemblies. International Group, with a workforce of nearly 1,800 employees, Figeac Aero is present in France, Mexico, Morocco, Tunisia and in the United States. At 31 March 2015, the Group reported a revenue of €204 million.
Embraer is the world's leading manufacturer of commercial jets that seat up to 130 passengers. Nearly 900 aircraft from the 37, 44, and 50-seat ERJ 145 family of regional jets have been delivered to airlines since their introduction in 1996. The E-Jet family includes four larger aircraft that have between 70 and 130 seats. The E170, E175, E190, and E195 set the standard in their category with their advanced engineering, high degree of efficiency, spacious, ergonomic cabins with two-by-two seating, and attractive operating economics. Since E-Jets entered revenue service in 2004, Embraer has received over 1,650 firm orders for this aircraft family. More than 1,100 have been delivered.
In 2013, Embraer launched E-Jets E2, the second generation of its E-Jets family of commercial aircraft comprised of three new airplanes – E175-E2, E190-E2, E195-E2 – seating from 70 to 130 passengers. The E190-E2 is expected to enter service in the first half of 2018. The E195-E2 is slated to enter service in 2019 and the E175-E2 in 2020.
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