Sonaca NMF Canada – Financial results and activities in growth
July 9, 2008, Mirabel, Que.- Sonaca NMF Canada net earnings amounted to $2.3 million in 2007 compared to a gain of $1.9 million in the previous year.
July 9, 2008 By Carey Fredericks
July 9, 2008, Mirabel, Que.- Sonaca NMF Canada net earnings
amounted to $2.3 million in 2007 compared to a gain of $1.9 million in the
previous year. Total revenue reached $37 million, representing an increase of
6% over 2006. These results reflect the increasing rate of output for all
existing programs and the addition of new programs, namely Bombardier's
Sonaca NMF Canada manufactures wing panels for the regional and business
jet markets as well as structural parts for the civil aviation industry. The
company's major customers are Bombardier, Mitsubishi Heavy Industries, Embraer
and Israel Aircraft Industries. Named "Enterprise of the year in 2007" by the
Quebec Aerospace Association (A.Q.A), Sonaca NMF Canada is increasingly active
in the Canadian Aerospace sector and is directly involved in the development
of Aéro Montréal, a public-private partnership dedicated to the growth of the
Greater Montreal Aerospace cluster.
Since 2003, Sonaca NMF Canada has restructured its operations and
restored its financial structure maintaining a constant growth of its
commercial activities while increasing its profitability.
"Sonaca NMF Canada is proud of its financial results for 2007 in spite of the very unfavourable context of the US dollar exchange rate. The $17 million
investment in the increase and the modernization of our Mirabel plant and the
addition of 75 employees, announced last October, will allow us to maintain
our leader's position in the manufacturing and the assembly of wings panels
and parts for the world aircraft industry." according to Philippe Hoste, Chief
Executive Officer at Sonaca NMF Canada.
Sonaca NMF Canada will be present at the Farnborough International
Airshow in England which takes place from July 14 to the 20th both at the
Quebec /A.Q.A Pavilion and at the Sonaca Group kiosk.
About Sonaca NMF Canada
Sonaca NMF Canada is a subsidiary of the Sonaca Group of Belgium. The
company manufactures aerospace structures for the civil aviation industry. Its
core business involves the development, forming and assembly of wing panels
for regional and business jet markets. Sonaca NMF Canada's clients are the
most important manufactures of regional and business jets in the world. Sonaca
NMF is located in Mirabel, Quebec, where it employs 265 people.
About Sonaca S.A
SONACA S.A. is an aerospace construction company located in Gosselies, in
the south of Belgium. It is the parent company of a group of companies located
in Brazil, Canada and the United States. The SONACA Group employs more than
2,500 people around the world.
SONACA's core business is the development, manufacturing, assembly and
test of aerospace structures and their associated subsystems. Thanks to its
involvement in civil contracts for AIRBUS, EMBRAER, GROB, DASSAULT AVIATION,
BOMBARDIER and IAI/GULFSTREAM, and in both military and space programs, SONACA
is now recognized worldwide for its know-how and active participation in the
development of new technologies. For more information on Sonaca, visit: