Latecoere Aerostructures Canada
About
Latecoere Aerostructures Canada (previously Avcorp Industries Inc.) is an aerostructures manufacturer of major airframe structures for leading aircraft companies including BAE Systems, Boeing, Bombardier, Fuji Heavy Industries and Lockheed Martin. Its core capabilities include metal & composite fabrication, assembly & integration, testing, design engineering, precision machining, aftermarket support, subassembly and component repairs.
In May-2022, Avcorp Industries entered a definitive arrangement agreement with Latécoère, under which Latécoère will acquire all the issued and outstanding common shares of Avcorp for approximately CAD41 million (USD31.9 million). The total transaction value is approximately CAD139 million (USD108.3 million), including the repayment or assumption of Avcorp's net debt and other lease liabilities.
In Nov-2022, Avcorp Industries completed a plan of arrangement with Latécoère's wholly owned subsidiary Albatross Bidco, under which Albatross Bidco acquired all the issued and outstanding common shares of Avcorp. As a result of the arrangement, Avcorp shares are expected to be delisted from the Toronto Stock Exchange and Avcorp intends to submit an application to cease to be a reporting issuer.
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