| Figeac, 19 February 2024 |
FIGEAC AÉRO (FR0011665280 - FGA:FP), a leading partner for major aerospace manufacturers, has today announced the inauguration of its new production unit in Casablanca (Morocco) dedicated to producing a centrepiece of the LEAP-1A engine nacelle. The ceremony was attended by Morocco's Minister of Industry and Trade and Safran Nacelles' Vice President Procurement.
This Friday 16 February 2024, FIGEAC AÉRO celebrated the inauguration of its Moroccan subsidiary's new production unit located at the heart of the technology park in Casablanca's Mohammed V International Airport. The event was attended by Morocco's Minister of Industry and Trade, Mr. Ryad Mezzour, FIGEAC AÉRO's Chairman-Chief Executive Officer, Mr. Jean-Claude Maillard, and Safran Nacelles' Vice President Procurement, Mr. Emmanuel Drouet.
The new production unit covers a surface area of 4,000 m² and is the result of close cooperation between the Group's French and Moroccan teams and those from Safran Nacelles. The unit will be involved in machining large complex parts thanks to both the latest manufacturing technologies installed at the facility and the Group's know-how. The new facility is dedicated to producing high value-added parts for the nacelle used in Airbus A320neo powered by LEAP-1A engines - a programme offering sizeable growth potential.
In keeping with its commitment to gradually reduce its carbon footprint, FIGEAC AÉRO adopted an eco-design approach for the facility which will therefore reduce emissions by more than 700 tonnes of CO2 per year compared to a standard facility. Particular emphasis was placed on:
- optimising energy efficiency, for instance by fitting the facility with low-energy heating, air-conditioning and lighting systems. Furthermore, photovoltaic panels are going to be installed on the roof to supplement these efforts by making use of a self-produced source of renewable energy;
- improving the recovery rate of machining waste, primarily by recycling cutting oils and compacting metal shavings.
The Group is also pleased to announce that the project was fully completed on time - from breaking ground in January 2023 to holding the first tests in July 2023, right up to validating the first parts produced in late 2023. The new facility is now ready for series production and will ramp up gradually before reaching its cruising speed by the end of 2024.
This 140-million-dirham (i.e. over €13 million) investment forms part of a drive to build a long-term partnership and has received financial support from both Safran Nacelles and the Moroccan State[1]. It is the culmination of a firm commitment by all stakeholders to develop a high-performing sustainable aerospace industry that is able to rise to the challenges it faces.
Lastly, as a reminder, FIGEAC AÉRO points out that the transformative contract signed with Safran Nacelles, which was the catalyst for this project, covers a multi-site industrial set-up (in France and Morocco) and amounts to approximately €140 million over 10 years. It thus counts among the cornerstones upholding the ambitious revenue targets set by the Group under its new strategic plan PILOT 28.
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About Figeac Aéro
The FIGEAC AÉRO Group, a leading partner for major aerospace manufacturers, specialises in producing light alloy and hard metal structural parts, engine parts, landing gear and sub-assemblies. FIGEAC AÉRO is a global group operating in France, the USA, Morocco, Mexico, Romania and Tunisia. The Group generated annual revenue of €341.6 million in the year to 31 March 2023.
| FIGEAC AÉRO Jean-Claude Maillard Chief Executive Officer Tel.: +33 (0)5 65 34 52 52 Simon Derbanne Head of Investor and Institutional Relations Tel.: +33 (0)5 81 24 63 91 / simon.derbanne@figeac-aero.com | ACTUS Finance & Communication Corinne Puissant Analyst/Investor Relations Tel.: +33 (0)1 53 67 36 77 / cpuissant@actus.fr Manon Clairet Press Relations Tel.: +33 (0)1 53 67 36 73 / mclairet@actus.fr |
[1] FIGEAC AÉRO extends its partnership with Safran Nacelles on the A320neo / LEAP-1A nacelles
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