Latécoère: Approval of the Conciliation Protocol
08 Luglio 2021 - 7:00AM
Business Wire
Regulatory News:
Latécoère (Paris:LAT) today announced that, following the
signature of a conciliation protocol with all of its present and
future financial creditors and its majority shareholder (cf. press
release July 2, 2021), the Commercial Court in Toulouse approved
this agreement by judgment dated July 7, 2021.
This protocol and its approval by the Court will allow Latécoère
the implementation of the various operations agreed in the
agreement relating to a comprehensive recapitalization of the
Group.
The judgment puts an end to the conciliation procedure opened on
May 11, 2021.
Pierre Gadonneix, Chairman of the Board of Directors,
commented: "On behalf of the Group's employees, I would like to
thank all of our banking partners and our reference shareholder
Searchlight Capital Partners for their renewed presence at our side
during this unprecedented crisis for the aeronautics sector. Over
the past year, our company and our industry have been heavily
impacted by the sanitary crisis. Through this period, Latécoère has
focused on strengthening its financial resources and balance sheet.
The completion of all the operations provided for in the
conciliation protocol will enable the Group to continue
implementing its transformation plan and thus ensure the
sustainability of its activities over the medium term while
providing the necessary financial resources for its growth. The
sanitary crisis has shown that it is important for resilient
players to emerge, with adequate financial capacity to support
customers in their development projects."
Philip Swash, Chief Executive Officer of the Group,
stated: "The signing of the conciliation agreement is a key
milestone for the Latécoère Group, which can now turn to the future
with confidence. With a stronger balance sheet and sufficient
liquidity for the medium term, we have now the means to complete
our transformation plan as well as optimize our manufacturing
processes and competitiveness. We will rapidly deploy our growth
strategy, especially in the Aerostructures market where critical
size is needed to build profitable and sustainable partnerships
with our customers. Latécoère will thus continue to improve its
customer focus and maintain its leadership in research and
technology to be well positioned on the future commercial platforms
expected to be launched over the next decade."
About Latécoère
As a "Tier 1" international partner of the world's major
aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault,
Embraer and Mitsubishi Aircraft), Latécoère is active in all
segments of the aeronautics industry (commercial, regional,
business and military aircraft), in two areas of activity:
- Aerostructures (55% of turnover): fuselage sections and
doors,
- Interconnection Systems (45% of turnover): wiring, electrical
furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,172 people in 13
different countries. Latécoère, a French limited company
capitalised at € 23,704,629.50 divided into 94,818,518 shares with
a par value of €0.25, is listed on Euronext Paris - Compartment B,
ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg:
LAT.FP.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210707005914/en/
Taddeo Antoine Denry / Investor Relations +33 (0)6 18 07
83 27
Pierre-Jean Le Mauff / Media Relations +33 (0)7 77 78 58 67
teamlatecoere@taddeo.fr
Grafico Azioni Latecoere (EU:LAT)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Latecoere (EU:LAT)
Storico
Da Mag 2023 a Mag 2024