Romania's Faur Bucuresti Produced Devices To Be Used In Assembly Of Airbus Aircraft
Romanian industrial manufacturer Faur Bucuresti (FAU.RO) has delivered technical devices to French aircraft company Latecoere, to be used in the assembly lines of the A380 airplane, the latest type of ultra-high-capacity airliner, says a press release issued Wednesday by the Romanian company.
The Groupe Latecoere specializes in the design and technical maintenance of various high-precision aeronautics components, utilized in the assembly of Airbus aircraft wings.
Faur representatives announced that the company has recently completed the production of five devices to be used on A380 assembly lines, which will undergo testing. Company executive general manager Mariana Hristea told MEDIAFAX that the value of the contract is EUR500,000. This fall, the Romanian company is due to finalize a second order for the French company, worth EUR600,000.
According to the press release, since 2008, Faur Bucuresti has focused on contracts with customers in countries less affected by the current recession, whose markets continue to expand, such as Egypt, Chad and Senegal.
Faur Bucuresti is managed by the Cristescu brothers, who own 97.45% of its share capital. Another shareholder is Romania's pivatization authority AVAS, which controls 1.77% of shares.
Company owners have announced their intentions to withdraw Faur from the listings of Bucharest Stock Exchange. The most recent transaction with Faur shares was on Monday, when it closed at 5 lei (EUR1=RON4.3688) per share. The company's market value at this last share price stands at RON108.36 million.
source: Faur SA Bucuresti Press release, writen by Mediafax Press Agency
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