Parent company prepares for growth

On 23 February 2011, Finaero Group, the holding company of STTS Group and AIP, has increased its equity by € 9.5 m. The financial shareholders of the group, Credit Agricole Private Equity, CIC (IPO) and Aerofund, have participated in this capital increase.

Christophe Cador, Group Chairman, said “This transaction will enable the group, which already has low debt, to strengthen its financial position in preparation for a new phase of investment from 2012, including international operations and acquisitions. The main priorities for 2011 are consolidation of our subsidiary in Germany, as well as increases in production rates at Airbus and Eurocopter and the successful establishment of AIP in Toulouse.”

Finaero achieved a consolidated turnover of € 74m in 2010, up 30% relative to 2009, and forecasts € 79m from continuing operations for 2011.
STTS Group operates 35 industrial sites in France, Spain, Germany, UK, Holland and China and is a world leader in painting and sealing activities for the aerospace and rail industries.
AIP specialises in design and manufacturing facilities for aviation interiors, both for commercial and VIP aircraft.
The group has 900 employees and has invested € 65m in facilities and associated infrastructure between 2003 and 2011.
Major Clients are: Airbus, Eurocopter, Air France, Dassault Falcon Service,
Latecoere, Sogerma, EADS, Alstom Transport and Sabena Technics.

Published 02/23/2011

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