Sonaca officially swallows LMI Aerospace (U.S.)

The Belgian aerospace company Sonaca, based in Gosselies, Tuesday finalised the acquisition of the American company LMI Aerospace, it said Tuesday in a statement. Sonaca launched a takeover bid in February. All the examinations of the American control authorities have now been concluded.

“We are proud to welcome LMI Aerospace to the Group, and both companies are very complementary in their commercial relations and industrial capabilities,” said Bernard Delvaux, CEO of Sonaca. “The Sonaca Group is taking on a new dimension, relying on a common strategy of market expansion, revenue growth and continuous innovation.”

The U.S.-based company, which retains its headquarters in Missouri, has cost $432 million (€405.5 million): the company’s 13.6 million shares listed at $ 14 plus the value of LMI’s debt. LMI retains its denomination, whilst being 100% integrated into the Chraleroi group.

LMI is producing in 21 sites, including 18 in the United States and employs 1,945 workers.

“There are a lot of opportunities to develop synergies for the expanded group, consolidating its strategic position in the market and offering it a promising future,” concludes Sonaca, which employs 2,392 people.