Sonaca NMF Canada
Sonaca NMF Canada has been awarded the Quebec Aerospace Association Enterprise of the Year Award for 2007.
September 20, 2007 By Carey Fredericks
MIRABEL, QC, June 19 /2007- Sonaca NMF Canada has been awarded the Quebec Aerospace Association (AQA) Enterprise of the Year Award for 2007.
This recognition is attributed to the company's overall accomplishments but particularly; to the growth of its earnings that have increased by 26% year over year in 2006, to exports that have more than quintupled between 2004 and 2006 and to the exceptional development of its overall business activities as reflected in the upsurge of orders from its major customers: Bombardier, Mitsubishi Heavy Industries, Embraer and Israel Aircraft Industries. Sonaca NMF Canada manufactures wing panels for the regional and business jet markets as well as structural parts for the civil aviation industry.
"We accept this acknowledgment with pride. This award recognizes the contribution and efforts of all employees in the fulfilment of our development plan. The improvements of our business practices will allow Sonaca NMF Canada to benefit from the growth in our industry and will ensure our long term success." according to Philippe Hoste, Chief Executive Officer at Sonaca NMF Canada.
"We at the AQA are honored to have Sonaca NMF Canada as a member of our organization. Mr. Hoste has achieved targets which were set and we are sure he and Sonaca NMF Canada will continue to excel as proud SME in our community. We look forward to Sonaca's continued support," said Don Tambling, President of AQA Board of Directors Since the acquisition of all assets of NMF Canada in 2003, Sonaca NMF Canada has obtained new commercial programs, consolidated its operations, restored its financial structure and has secured 250 specialized jobs in Quebec.
In 2005, the company initiated a business improvement program which contributed to the increase in productivity and the enhancement of the profitability of its manufacturing programs. Among others, administrative expenses decreased by 13% in 2006 over 2005 and the bottom line improved by 184% during the same period.