Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Figeac Aéro Group, a supplier to major aerospace manufacturers, has announced the signing of a $600 million contract with Spirit AeroSystems to produce several primary parts and sub-assemblies for the Airbus A350 XWB and Boeing B737, B747-8, B767 and B777. With this important contract, Figeac Aéro group will recruit about 1,400 to 1,500 positions worldwide including 300 in France . The group will invest about €30 million per year on the period 2018 - 2019 to support this contract. Spirit AeroSystems selected Figeac Aéro Group for the production of small, medium and large-sized aluminum and titanium mechanical components together with sub-assemblies.
The company, which employs 3,000 employees worldwide and it operates in France, United States, Morocco, Mexico and Tunisia. The group will recruit 300 people for its two sites in France, from 850 to 900 in Morocco and Tunisia where the number of employees will grow from currently 850 to 1,700-1,800 and 250 employees will be recruited in Wichita (Kansas, US) where 160 are currently employed. The group reported an annual turnover of €252.3 million in 2016 with a profit of €33.2 million.
Eurofound (2017), Figeac Aero, Business expansion in World, factsheet number 89964, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89964.