Latecoere completes the acquisition of Bombardier's Electrical Wiring and Interconnection Systems business in Queretaro (Mexico)

Latecoere announced that the company has completed its acquisition of Bombardier's Electrical Wiring and Interconnection Systems (EWIS) business in Queretaro, Mexico. The two companies have also entered into a long-term supply agreement under which Latecoere will continue to provide Bombardier with EWIS systems from this site for all Bombardier platforms including its Global and Challenger aircraft. This acquisition enables Latecoere to expand its customer portfolio by serving beyond Bombardier other customers such as Airbus Canada, MHIRJ and Avcorp.

The EWIS business in Queretaro specialises in electrical harnesses and sub-assemblies necessary for the production of EWIS systems. Annual revenue for this business is estimated at approximately US$60 million. This acquisition also enables Latecoere to expand its customer portfolio and strengthen its order book by serving customers from this site.

"We are pleased to finalise this acquisition and at the same time enter into a long-term supply agreement with Bombardier. With this transaction, Latecoere strengthens its industrial presence internationally and increase its proximity to its customers. It also signals our continued participation in the global consolidation of the aerospace industry," said Philip Swash, Chief Executive Officer of Latecoere.

"The Bombardier team looks forward to working with Latecoere toward a seamless integration as we continue to build on the successes of both our companies," said Paul Sislian, Executive Vice President, Operations and Operational Excellence.

Latecoere is acquiring the Queretaro site on the basis of an enterprise value of US$45 million, and will benefit from the added value and significant experience of the Queretaro EWIS team. The transaction will not affect Bombardier's remaining operations in Queretaro, where it will continue to produce major structures for Bombardier aircraft such as the rear fuselage of the Global family of business jets - including the company's flagship Global 7500 aircraft - which is the most complex aircraft component manufactured in Mexico.