Asco Industries Reaches 209 Million Euro Revenue for 2011

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• Ebit amounted to 12 million Euro and capital expenditure reached 4 million Euro. • Asco finished the year with a robust cash position to support the investment for future expansion based on new contracts and the substantial rate increases under the existing contracts, several of which were extended. • 14 million Euros went to engineering activities. • Continuous improvement activities were focused on lean initiatives. • The approval for the quality standard AS9100 revision C has been obtained. • Asco Industries currently employs 931 persons, 14% more than in the previous exercise. • In parallel with Asco Industries, the subsidiaries of the Asco Group (Asco Aerospace Canada and Asco Deutschland) showed a growth of 11% on their revenue and an increase of 9% of the workforce.

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The figures

Asco Industries NV announces today a revenue of 209 million Euro for 2011, 10% more than in 2010, with an Ebit of 12 million Euro.

Revenue increase was driven by higher aircraft production rates in 2011, while the positive Ebit was achieved through continuous efforts on cost effective production processes.

Capital expenditure reached 4 million Euro, an increase of 42% to acquire and upgrade physical assets.

As a result of 3 years focus on inventory management and lean initiatives, Asco Industries has built a robust cash position to further invest in future challenges.

Further, to assure state of the art manufacturing and continuous industrial development to support growth, 30 million Euros of capital expenditure have been assigned for the 2012-2015 period.

Consolidation and new programs

The year was characterized by the development of components for new aircraft with innovative solutions for weight optimization and environmental impact. Among them, the A350, where Asco is responsible for the design and production of slat tracks and droop nose mechanisms, and Bombardier’s C-Series slat and flap supports, where Asco has design authority.

Benefits from these programs are not reflected in 2011 yet since the revenue will be generated in the future.

Contract extensions of existing programs were also executed such as the B737, for which Asco has manufactured the slat high lift supports since the 1995, the B787 slats tracks, and the 777 landing gear retraction structure. Asco will equally continue to supply flap high lift devices for the Airbus A380 and A321.

New projects include landing gear attachments and spoilers for Bombardier’s Learjet 85, landing gear retraction structures for the A380, titanium fuselage frames for the B787, and the external wing folding structure for the F35.

With these programs Asco keeps consolidating its position as a preferred supplier for slat and flap high lift devices, as well as for landing gear and complex structural components.

Research and engineering activities

14 million Euros were spent on Engineering activities including research, design, and industrialization, a 43% increase in comparison with the previous year with a team of 150 engineers and technicians.

Projects include, besides the development of new programs, development of the supports for new laminar wing profiles, research on new materials, and continuous improvement of all the processes in house (machining, treatments, assembly, methodologies, and tooling).


The attention was directed towards lean initiatives, limiting waste at all levels to assure quality and on time delivery at an optimized cost.

Complying with clients and industry standards, Asco worked throughout the year to achieve the quality approval AS 9100 rev C. The standard requires definitions to measure the performance of business processes and the implementation of corrective and continuous improvement actions throughout the company and to deploy risk management. The standard assures on time and in quality delivery.

The AS9100 rev C adds to other Asco quality credentials such as EASA Part 21, Nadcap, and customer’s qualifications.

In order to support its growth, Asco Industries also increased its total headcount by 111 persons in 2011, and employs 951 employees from 21 nationalities.

Training also increased during the period, with a ratio of 4,45% of the work time.

The Asco Group

The joint revenue of the Asco subsidiaries, Asco Aerospace Canada and Asco Deutschland, increased by 11% during 2011, and reached 42 million euros for the period.
The headcount raised by 9%, with a total of 297 employees.

Note: Preliminary unaudited accounts

About Asco

Asco, incorporated in 1954, is a proven technology specialist and supply chain integrator in design, development, precision machining, processing, and certified assembly of complex high strength metallic aircraft components (high-lift devices, landing gear components, and engine attachments).
Asco is headquartered in Zaventem, Belgium with operating subsidiaries in Germany and Canada combined with service offices in Brazil and the US. Today, the Asco Group employs 1,250 people. Its worldwide, 100% Aerospace customer base includes most aircraft manufacturers as well as many related Tier-1 and Tier-2 suppliers.

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Ingrid Keijser
ASCO Industries
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