Tuesday 16 February 2021, Latecoere announced that the company has completed its acquisition of Bombardier’s Electrical Wiring and Interconnection Systems (EWIS) business in Querétaro, 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 specializes 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 finalize 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.
Thierry Mootz, Deputy CEO of the group and General Manager of the Interconnection Systems branch, made it to Querétaro to celebrate “Day one” with the teams and warmly thank all those involved.
“Today, we are all gathered to mark this important day. The current circumstances and the crisis our industry is facing make this day even more special. Our first priority in the group remains the safety of our people, we want each employee to perform their work in complete safety and “zero accidents” remains our goal. It is also important that we deliver on quality and on time: customer satisfaction is essential to succeed, and it is in the DNA of Latecoere. Here one of our customers is Bombardier and of course we want them to be satisfied with the service we provide. I am very proud of this acquisition and I am very proud to have you on board to achieve this.”