(Paris) The companies specializing in precision aeronautical and automotive parts Mecachrome and WeAre Groupe announced on Friday that they wanted to merge to form a group of 3,600 people and achieve an annual turnover of 450 million euros.
“The project to bring together these two major players in the sector […] constitutes a major operation for the consolidation of the aeronautics market. It will give birth to a leading multitechnology French group in the strategic aeronautics, space, defense and automotive sectors, ”the companies said in a press release.
This project is supported by the investment company Tikehau Ace Capital and Bpifrance, the public investment bank, according to its promoters.
The financial terms of this merger in the aeronautics sector, a movement also encouraged by the French government to strengthen an ecosystem still very fragmented, were not disclosed, nor the possible consequences in terms of employment.
PHOTO ROBERT SKINNER, PRESS ARCHIVES
The assembly of a component at Mecachrome Canada at the Mirabel plant in 2013.
In a letter sent to AFP, the FO metallurgy federation hails a “promising operation” aimed at “creating a European leader in elementary parts in France” and consolidating the subcontractors in the sector.
The FO unions of the Mecachrome group will however remain “vigilant on the sustainability of all sites in France”, and on the preservation of jobs, so that employees do not “pay the price” of this merger.
If the current negotiations are successful, the new “champion” ultimately aims to achieve an annual turnover of 750 million euros, according to the press release.
WeAre, founded in 2016 and bringing together several small companies, specializes in the development of small-sized parts (turning, milling, 3D printing, etc.) and has ten industrial sites in France and North Africa.
For its part, Mecachrome, which defines itself as an expert in “the design, engineering, machining and assembly of high-precision parts and assemblies, intended for the aeronautics and automotive fields, motorsport, defense and energy ”, has gone through a difficult period due to the shutdown of the Airbus A380 and the slowdown in aerospace activity following COVID-19.
The company had recourse to an employment safeguard plan, reduced in 2020 thanks to a long-term partial activity agreement.
As a result of the health crisis, 8,800 jobs were cut across the aviation industry in 2020 (-5% of the workforce), estimates INSEE.