LISI Group has agreed to acquire the remaining 49% of the TERMAX LLC equity. This transaction, initially planned for the first quarter of 2021, enables LISI Group to become the sole owner of TERMAX through its US subsidiary, LISI Holding North America.
LISI Group is a global industrial group specialising in the manufacture of high value-added assembly and component solutions for the aerospace, automotive and medical industries. Thanks to the commitment of its 11,171 employees, in 13 countries over four continents, LISI generated sales of €1.7 billion in 2019.
François Liotard, chief executive officer of LISI AUTOMOTIVE, explains: “With TERMAX, LISI has extended its global footprint in clip fastening solutions in a lasting manner. The commercial and industrial synergies between our Clipped Solutions Business Group and Termax will continue to bear fruit. It will allow us to bring to a wider customer base the best development and production capabilities, and to offer innovative solutions in the areas of weight reduction, electrification and autonomous vehicle equipment.”
Effective from 30th June 2020, the transaction does not have a material impact on the LISI Group financial statements in which TERMAX and the whole of the corresponding debt have been consolidated since 1st November 2017. Lockheed Martin and LISI AEROSPACE sign agreement
LISI AEROSPACE, part of the LISI Group, has signed its first long-term supply contract with Lockheed Martin for F-35 fasteners. The award covers years 2020 – 2022, with three one year options to 2025, at an estimated (six year) total value of US$60 million (€53.3 million).
The entire contract will be supplied by LISI AEROSPACE’s North American platform and strengthens the company’s position as a major supplier of fasteners for aerospace and military aviation.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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