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The FSI invests again into Mécachrome
Financing businesses - 03 January 2012
The Strategic Investment Fund (FSI) decided to invest again into the capital of Mécachrome beside ACE Management and on the Fonds de solidarité des travailleurs du Québec (Workers of Quebec Solidarity Fund), via a €16.8mn fund raising to allow the purchase of Mécahers, an aeronautical equipment manufacturer.
Mécachrome is an acknowledged leader in the design, engineering, manufacturing and assembly of complex precision-engineered components for the aircraft and automotive industries. The company, which operates in France, Canada and North Africa, posted revenue of €225mn in 2011 and has a total workforce of 1,500, of whom some 1,300 work on its four sites in France.
With the acquisition of Mécahers, which generates revenues of €27mn from activities that include sheet metalworking, boilermaking and mechanised welding as well as the recently developed area of composites, Mécachrome expands its commercial scope and enhances its competitiveness with major clients.
The new entity represents a 2011 equivalent of over €250mn in revenue with a workforce of 1,800 employees.
* The FSI, ACE Management and the Fonds de Solidarité des Travailleurs du Québec (FTQ) development fund invested €45mn in Mécachrome en 2009.
