Daher announces plan to sell its high/low-pressure industrial piping business
Paris, May 3, 2018 – Daher has announced its plan to sell its high/low-pressure metal piping design and manufacturing business. The plan includes a production site in Luceau and a design office in Cornebarrieu, both in France, representing a total of 155 employees.
After being courted by a number of suitors from France and the US, Daher chose to enter exclusive talks with Tecalemit Aerospace, a French company with the most attractive business development plan. Its project is backed by solid guarantees in engineering and manufacturing expertise—ensuring a competitive solution for the business unit’s customers—and the support of key manufacturers in the sector.
Daher thus intends to refocus its activities and development efforts on its core business while supporting the growth of a French player in high/low-pressure metal pipes.
Didier Kayat, Daher’s Chief Executive Officer: “The aerospace industry is currently undergoing consolidation in the market for piping design and manufacture, and the sector was keen to see the emergence of benchmark players from France. Tecalemit Aerospace is a well-established, ambitious company built on family values close to Daher’s own. Our main concern was to choose a project that would empower our employees to fully engage in a new business endeavor.”
Tecalemit Aerospace has until September 30, 2018, to fine-tune its takeover proposal.
The plan will be submitted to employee representatives, who will be consulted and kept abreast of new developments.