FIGEAC AÉRO CONTINUES TO MAKE HEADWAY IN CHINA

FIGEAC AÉRO (FR0011665280 – FGA:FP), a leading partner for major aerospace manufacturers, announces that its joint venture in China, Nanshan Figeac Aero Industry, has achieved new major milestones including a first long-term agreement for business jet parts.

The Nanshan Figeac Aero Industry (NFAI) joint venture combines the Group's technical expertise with the strength of its partner Shandong Nanshan Aluminium Co., China's leading aluminium producer. The partnership has expanded FIGEAC AÉRO's footprint in China, which should enable it to play a key role in the country's aerospace supply chain over the coming years.

The Group is thus making further progress on its development strategy, which has recently included some major milestones on both the industrial and commercial fronts:

• In a drive to be able to offer the best industrial solutions locally, NFAI has recently acquired new five-axis machining centres dedicated to the series production of complex monobloc aluminium parts for the aerospace industry. This equipment generates much interest in China thanks to its high level of technology and also to the need for a reinforced local offer for large workpieces.
• Furthermore, the joint venture recently met all the criteria stipulated in the annual audit performed by certification body Bureau Veritas to renew its EN 9100 aerospace certification, thereby attesting to its commitment to the highest standards of quality.
• Lastly, NFAI has achieved another two major commercial milestones:

Firstly, it has been awarded a first long-term agreement by a first-class aircraft manufacturer to produce executive jet parts.

Secondly, the site has been accredited by AVIC SAC Commercial Aircraft (SACC), a subsidiary of Chinese aerospace behemoth AVIC, which is involved in manufacturing parts and sub-assemblies for most major aircraft manufacturers and Chinese aerospace firms. This accreditation means that SACC recognises NFAI as an approved supplier, thus paving the way for NFAI to win any requests for proposals it may launch.

Based on projections made by the world's leading aircraft manufacturers, China's air traffic is growing at such a pace that the country could account for close to a quarter of global demand for new aircraft over the next 20 years. This makes it a particularly strategic market for the aerospace industry.

On the back of these latest advances, FIGEAC AÉRO is ideally positioned to speed up its development in China through its partnership with NFAI; it therefore stands to sign further large-scale contracts with both international and local clients in the near future.

Upcoming events (after trading)

• 14 May 2024: revenue for Q4 and FY 2023/24
• 26 June 2024: results for FY 2023/24

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.