The FIGEAC AÉRO Group (ticker code: FGA), leading partner of major aerospace industry companies, confirms that it has obtained funding of €38 million from the European Bank for Reconstruction and Development (EBRD). The first tranche of €15 million corresponds to the refinancing of investments made, with no impact on the Group's net debt as at March 31, 2018, and the following tranches will be used after the end of the 2017/18 financial year.
This funding will be used to support FIGEAC AÉRO's planned investments to expand its production capacity in Tunisia and Morocco. The loan from this leading international financial institution is testament to the quality of the development projects led by the Group in the Southern and Eastern Mediterranean (SEMED) region. It reflects efforts underway to support major industrial development programmes that offer a positive impact on local economies.
Jean-Claude Maillard, CEO – Founder of FIGEAC AÉRO, said: "We are extremely pleased with the confidence shown by the EBRD in our development project. This arrangement will not only strengthen our growth strategy, which combines industrial excellence with close customer relations and competitiveness, but will also enable us to diversify our sources of funding. It fits perfectly with our desire to accelerate the roll-out of our production capacities to meet the needs of our clients."
31 January 2018 post-trading: publication of Q3 2017/18 revenue
ABOUT FIGEAC AERO
The FIGEAC AÉRO Group, a leading partner of major aerospace manufacturers, specialises in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. An international group with a workforce of 3,300 employees, FIGEAC AÉRO operates in France, the United States, Morocco, Mexico and Tunisia. In the year ended 31 March 2017, the Group reported annual revenue of €325 million.
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