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Lohia eyes French airplane parts maker Lauak: report
The French firm's talks with Lohia, which makes composite products, highlight India's growing role in aircraft manufacturing
Aircraft component maker Lohia Aerospace may buy a partial stake in French airplane parts maker Lauak Groupe that supplies components to big aircraft manufacturers like Airbus SE and Bombardier Inc, Bloomberg reported.
Lauak Group and Lohia Aerospace did not respond to an emailed query.
The French family owned company is exploring a full or partial sale to aid its global expansion, the Bloomberg report said, adding that the company is looking at small investors for a minority stake or at corporates for the sale of a majority stake.
The French firm’s talks with Lohia, which makes composite products, highlight India’s growing role in aircraft manufacturing.
Headquartered in the Basque region, Lauak Groupe is a closely held aeronautic component and sub-assembly supplier of Safran SA and Colling Aerospace.
Established in 1975 in Hasparren in southwest France by Jean-Marc Charritton, the company has annual sales of $239 million, or €210 million, employs 1,800 and has 10 plants across Portugal, Mexico, Canada, and India.
The company intends to grow its subsidiaries in Mexico and India, considering that these are lower cost subsidiaries, Lauak Groupe chief executive officer Mikel Charritton told Bloomberg in an interview.
The development comes amid reports that Mahindra and Mahindra is in talks to buy Figeac Aero, another French aerospace provider with a market of €328 million.
Lauak has so far made at least eight acquisitions since its founding in 1975.
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