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AERO signs billion contract with Latecoere

On October 3, 2007, AERO Vodochody a.s. (AERO) and LatŽcoŽre Toulouse, France, signed a five-year contract on exclusive delivery of hinges and inner structure of doors for the regional transport jet aircraft Embraer 170 and Embraer 190 in a total volume of around CZK one billion (approx. € 36 million). In the years 2008 – 2012, AERO should produce 800 doors subassembly units. The production will be launched in 2008.

"This new production program will create around 150 new work places in AERO and in our subsidiary company Technometra Radotin, which will secure part fabrication for the Embraer aircraft," said Peter Ondro, President of AERO. "The cooperation with LatŽcoŽre will help us realize further significant modernization of our machinery in the amount of CZK 100 million (approx. € 3,6 million) and upgrade to a higher level in the subcontractor's chain – to more significant and complex deliveries of aircraft technology with high value added. Total investment of AERO on reconstruction and purchase of new technology, including construction of an in-house composite plant, will reach up to more than CZK 500 million (approx. € 18 million) in 2007/2008," added President Ondro.

"The contract signed today represents a good base for mutual cooperation. The negotiations have shown high professionalism of our new partner, the AERO Vodochody Company," said Guy Weissenbacher, Senior Vice-President "Aero structure" LatŽcoŽre.

The Embraer 170 and Embraer 190 aircraft are nowadays the best selling regional transport jet aircraft. The production of the first Embraer 170 prototype was launched in 2001. Among key subcontractors in the program of the Brazilian company of the same name Embraer belong the Japanese company Kawasaki Heavy Industries, Belgian Sonaca and French LatŽcoŽre.

AERO Vodochody a.s. is the largest defence company and aircraft technology producer in the Czech Republic. The revenue of the Company reached ca CZK 90 billion (more than € 3 billion) in past 30 years, the export reaching CZK 50 billion (almost € 2 billion) in the same period. AERO employs more than 1,300 employees.

LatŽcoŽre Group develops and produces aerostructures parts (fuselage sections and doors, on-board wiring and systems) for the whole world, with branches in seven countries, including the Czech Republic (Letov letecka vyroba s.r.o.). The revenue of the Group reached up to € 433 million in 2006. The Group employs more than 3600 employees.

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Press release issued by Aero Vodochody a.s. on October 8, 2007

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