Speculation about the future of Airbus cabling supplier Gespac Maroc Novatech has ended with the approval of the purchase of the French-Moroccan company by Latécoère subsidiary LATelec.
Gespac Maroc Novatech's problems were so serious that the supply of main wiring harnesses for Airbus single-aisle aircraft was endangered, threatening disruption of A318, A319, A320 and A321 production. An industry source confirms that Airbus took over payment of the company's salaries to ensure continuity of supply. Gespac Maroc Novatech also supplies components for the A380.
The deal was approved by the Montpellier, France tribunal of commerce, which chose the Latécoère bid ahead of that from another French company, Labinal.
LATelec will absorb Gespac Maroc Novatech's activities into its own cabling operation, based at Toulouse, where one of Gespac's operations was also based. The company says the acquisition will benefit both its strategic and financial interests, enabling it to reinforce its position in the aircraft cabling business.
Latécoère's cabling and onboard systems division accounts for 28% of the company's overall turnover, which stood at €196 million ($236 million) in 2003.
JULIAN MOXON / LONDON
Source: Flight International
