Aciturri formalizes the acquisition of Alestis

Aciturri has formalized today in Seville the purchase of the shares of Airbus Operations, S.L. and Unicaja in Alestis Aerospace, after which our company becomes the owner of 75.94% of the stocks of the Spanish aeronautical group, while the Spanish Company of Industrial Participations (Sociedad Estatal de Participaciones Industriales - SEPI) maintains its representation with 24.06%.

Mª Eugenia and Ginés Clemente, both shareholders of Aciturri, have evaluated the operation in a joint press conference together with Manuel Huertas, President of Airbus Operations, S.L., and Bartolomé Lora, Vice President of SEPI.

On a “historic day for the Spanish aeronautical sector,” Ginés Clemente, shareholder and CEO, said that the merger of Aciturri and Alestis means “a sustainable & stable business project with greater guarantees to compete in a global market” that turns us “the first aerostructures Tier1 of 100% Spanish capital”.

With a turnover of € 283 million in 2018, Alestis currently employs 1,600 people in facilities located in Seville (3), Madrid (1), Cádiz (2), Vitoria (1) and Brazil (1). For its part, Aciturri has a workforce of more than 1,500 people, distributed in several work centres around Miranda de Ebro (4), Valladolid (1), Madrid (2), Seville (1), Gijón (1) and Portugal (1), and ended the year 2018 with a turnover of € 303 million.

The objective now, as Clemente said, is to "become Alestis competitive and profitable" and achieve, in the next few years, "a joint turnover of 1,000 million euros, at the level of our European competitors." Our vocation remains the same "to grow in the long term and generate quality employment", in order to be "resource-generating companies”.

In the medium term, the new shareholders have shown their “total and absolute” commitment to the obligations - both with clients and creditors - of Alestis, with an injection of € 80 million into the company.

Although the final goal is to integrate both firms into a common project, in a first stage they will maintain independent structures and autonomous management teams, with the aim of facilitating their evolution and “taking advantage of the complementary technologies and capabilities of both companies”. Alestis and Aciturri have different trajectories and development stages, and today they have different needs. Each one must "maintain the ability to establish and achieve its own objectives, both in the operational and financial terms", said Clemente.

The acquisition of Alestis constitutes the fourth corporate operation of our company in recent years, after the incorporation of Grupo Aries (2008), Aeronáutica del Sur (2010) and Acatec Aeroassembling (2019), all of which are currently integrated into Aciturri's structure.

During the press conference held today, Ginés Clemente has also taken the opportunity to thank SEPI "for their commitment to continue being part of this project".