LMI Aerospace and Sonaca Group Close on Sonaca’s Acquisition of LMI
June 27 2017 - 11:59AM
LMI Aerospace and the Sonaca Group have closed on Sonaca’s
acquisition of LMI, creating a global leader in the design and
manufacture of complex aerostructures.
“Our vision is on creating the structures that help our
customers soar,” said Dan Korte, LMI Aerospace chief executive
officer. “Today, we continue that focus as a member of the Sonaca
Group. While we retain the LMI Aerospace name and the recognition
it carries in the industry, we now boast a new logo identifying us
as part of the Sonaca family and reflecting the bright future we
will build together.”
“We welcome LMI Aerospace to the Sonaca Group,” said Bernard
Delvaux, Sonaca chief executive officer. “Our companies are a great
match, with relationships to access different customers and
complementary capabilities to better serve all of our customers.
Together, we can reach a new dimension as we pursue our collective
strategy for market expansion, revenue growth and continuous
innovation.”
Under the terms of the merger agreement, LMI shareholders are
entitled to receive $14 per share in cash. The NASDAQ stock
exchange has halted trading of LMIA shares and the de-registering
process has commenced. LMI now operates as LMI Aerospace – A Member
of the Sonaca Group. LMI headquarters remain in St. Louis.
LMI will file with the Securities and Exchange Commission a Form
8-K regarding this transaction. This document also will be
available at http://ir.lmiaerospace.com/.
About LMI AerospaceLMI Aerospace is a leading
supplier of structural assemblies, kits and components and provider
of engineering services to the commercial, business and regional,
and military aerospace markets. Manufacturing more than 40,000
products for a variety of platforms and providing turnkey
engineering capabilities to support aircraft lifecycles, LMI offers
complete, integrated solutions in aerostructures, engineering and
program management. Headquartered in St. Louis, LMI has 21
locations across the United States and in Mexico, the United
Kingdom and Sri Lanka. For more information, visit:
www.lmiaerospace.com.
About Sonaca Group Sonaca Group is a global
Belgian company active in the development, manufacturing and
assembly of advanced structures for civil, military and space
markets. The group is especially known for its capability to design
and produce advanced structures such as wing movables and complex
fuselages. Headquartered in Gosselies, Belgium, it has production
facilities in China, Romania, Canada and Brazil. Sonaca Group also
supplies engineering services, large sheet metal elements, wing
panels, composite structures and machined components. For more
information, visit www.sonaca.com.
Forward-looking StatementsThis news release may
include forward-looking statements, including statements related to
LMI’s outlook or expectations regarding the merger between LMI and
the Sonaca Group, the expected impact of the transaction on LMI’s
future financial performance, the consequences of integrating the
merging organizations, and other statements based on current
management expectations, estimates and projections. Where, in any
forward-looking statement, LMI or its management expresses an
expectation or belief as to future results or actions, there can be
no assurance that the statement of expectation or belief will
result or be achieved or accomplished. Such forward-looking
statements are not guarantees and are inherently subject to various
risks and uncertainties, many of which are beyond LMI’s ability to
control or predict, that could cause actual results and events to
differ materially from the forward-looking statements. These risks
and uncertainties may include, among other things, difficulties,
delays and unanticipated costs in integrating the merging
organizations, failures or delays in realizing the benefits
contemplated by the merger transaction, business disruptions as a
result of the integration of the merging organizations, and
diversion of management time to address transaction-related issues,
as well as those Risk Factors detailed in LMI’s Annual Report on
Form 10-K/A (Amendment No. 1) for the fiscal year ended
December 31, 2016, as filed with the SEC on April 4, 2017, and
any risk factors set forth in our other filings with the Securities
and Exchange Commission. Any forward-looking statements included in
this document are only made as of the date of this document and LMI
disclaims any obligation to publicly update any forward-looking
statement to reflect subsequent events or circumstances.
Contact:
Amy Horton
LMI Aerospace
+1 636-916-2130
ahorton@lmiaerospace.com
Sandra Alonzo
Sonaca Group
+32 71 255 329
Sandra.alonzo@sonaca.com
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