Figeac Aero Regional



Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

16 Nov 2017



PSD disclosed:

19 Jan 2018

Translated version of this PSD: French

Project Description

Provision of long-term financing of up to EUR 38 million to Figeac Aero Group, one of the leading suppliers to aerospace manufacturers, to finance the expansion of its subsidiaries in Tunisia and Morocco.

Project Objectives

The proposed facility will support part of a EUR 64 million 4-year investment program (from 1st April 2016) by Figeac Aero at its subsidiaries Figeac Aero Tunisie (Tunisia), Figeac Aero Maroc (Morocco) Casablanca Aeronautique (Morocco). The proceeds of the EBRD loan will be allocated towards capital expenditure focusing on capacity expansion and improvement of competitiveness.

Transition Impact

This project is expected to have significant transition impact under the "Inclusive" and "Competitive" qualities. The growth of the Borrower's activities in Tunisia and Morocco will promote further integration of the aeronautics value chain in both countries by creating additional demand for local small and medium-sized enterprises ('SMEs'). Technical assistance will be provided by EBRD to SME suppliers along the value chain to promote the introduction of new production technologies and to improve their operating standards. The planned capacity expansion will also provide new employment and training opportunities for young people, building on cooperation between the client and educational institutions.

Client Information


The Borrower, Figeac Aero S.A., is the holding company for FIGEAC AERO Group, a leading aerospace supplier, specialised in the production of light alloy and hard metal structural parts, engine parts, landing gear parts and sub-assemblies. An international group with a workforce of 3,300 employees, FIGEAC AERO operates in France, the United States, Morocco, Mexico and Tunisia. As of end of March 2017, the Group, listed on Euronext in Paris, reported annual revenues of EUR 325 million.

EBRD Finance Summary

EUR 37,740,000.00

A senior loan of up to EUR 38 million to Figeac Aero S.A., to be on-lent to its subsidiaries (i) Figeac Aero Tunisie, (ii) Figeac Aero Maroc and (iii) Casablanca Aeronautique.

Total Project Cost

EUR 64,240,000.00

Environmental and Social Summary

Categorised B (2014 ESP). Due diligence has confirmed that this Project, involving the construction and extension of aerospace parts production facilities, is associated with direct and site-specific impacts that have been identified through targeted appraisal and mitigated via the implementation of an Environmental and Social Action Plan (ESAP).

The ESDD was completed in-house and included a combination of the site visit and EHS audit of the current operations in Tunisia; desktop review of the Moroccan and Tunisian facilities, as well as Figeac corporate-level E&S management systems and reporting; and analysis of the expansion project.

It has been established that all assessed facilities have good Environmental, Health and Safety and Social Management Systems, well aligned with Figeac Aero's corporate-level systems, which meet the requirement of the national regulations and follow the principles of the Good International Industry Practices. The main adverse effects associated with the existing operations, such as worker's health and safety, social and labour issues, hazardous materials and waste management, contractor management, are adequately managed and the principles of continuous improvement were observed. The greenfield development in Morocco is located in a designated industrial zone with no sensitive areas or receptors in the vicinity. The potential impacts during construction and operation can also be effectively managed by the implementation of good stewardship practices in line with the Company's EHS management systems. Overall, it has been confirmed that the Company and its subsidiaries are in compliance with the applicable legislation and have the institutional capacity to deliver the project in accordance with EBRD performance standards.

A number of the recommendations aimed at overall E&S management improvements were formulated into the ESAP which include, amongst others: the implementation of root cause analysis of work-place incidents and work risk assessment; enhancement of contractor management procedures; the completion of a corporate Priority Action Plan for Health and Safety; implementation of a grievance mechanism and Stakeholder Engagement Plan; supply chain management and improved EHS supervision and reporting.

There is no GET component associated with this Project.

ESAP has been agreed with the Client and its implementation and overall E&S performance will be monitored by the Bank via the review on the Annual Environmental and Social Reports.

Technical Cooperation

Technical Cooperation support for this operation is being provided by the European Union (NIF South) through the EBRD Trade and Competitiveness Program to boost value chain development in Morocco and Tunisia.

Company Contact Information

+33 5 65 34 52 52
+33 5 65 34 70 26
Zone industrielle de l'Aiguille 46100 FIGEAC FRANCE

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Share this page: