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LISI 2016 FINANCIAL REPORT
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2011
The Group continued the movement to strengthen and build its
position in strategic markets started in 2010. The year 2011 was
marked by the following transactions:
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LISI COSMETICS was deconsolidated on January 1, 2011 following
the sale completed as at April 6, 2011. For the record, the division
generated a sales revenue of €52.8 million in 2010.
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The Creuzet group was purchased and consolidated as of July 1,
2011.
2012
On May 29, LISI AUTOMOTIVE sold 100% of its holdings in its
subsidiary KNIPPING UMFORMTECHNIK Gmbh to Gris Invest SAS for
an amount of €2.8 million.
Merger of Indraero Morocco and Creuzet Morocco.
2014
Mainly specializing in the forging of metal parts for aerospace
applications, the MANOIR AEROSPACE group has been consolidated
since June 5, 2014 into LISI AEROSPACE with the aim of strengthening
the Structural Components armwith the integration of complementary
technologies.
To a lesser extent, one should note in June 2014, the acquisition of
100% of the control LISI AUTOMOTIVE Shanghai, of which a Chinese
partner held 25% previously.
2015
At its meeting on October 21, 2015, the Board of Directors voted to
adopt a new structure for its governing bodies that separates the
positions of Chairman of the Board of Directors and CEO. Thus, as
from March 1, 2016:
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Mr. Gilles Kohler, previously the Chairman and CEO of the company,
remains the non-executive Chairman of the Board of Directors.
Mr. Emmanuel Viellard, previously Deputy Chairman & CEO, is now
in charge of the Group’s senior management.
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On December 17, 2015, the LISI Group signed an agreement
with POLY-SHAPE to create a joint subsidiary, LISI AEROSPACE
ADDITIVE MANUFACTURING, of which 60% will be held by
LISI AEROSPACE and 40% will be held by POLY-SHAPE.
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This company will combine the exclusive know-how of the
two partners in order to establish a leader in the design and
manufacture of mechanical parts for aeronautic and space
applications using 3D printing.
2016
On April 11, 2016, the LISI Group acquired 100% of the Remmele
Medical Operations securities. This company was acquired by
Hi-Shear Corporation, a wholly owned subsidiary of LISI AEROSPACE.
During financial year 2016, the Group increased its equity interests in
its subsidiary ANKIT Fasteners Pvt Ltd, enabling it to hold 51% of the
share capital.
6.3
I
COMPANY NAME – HEAD OFFICE AND
LEGISLATION
Company name and head office
LISI S.A. – Le Millenium – 18 rue Albert Camus – 90008 BELFORT
Cedex
Legal form of the issuer and applicable legislation
“Société Anonyme” (public limited company) governed by French
legislation.
Place and number of registration
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R.C.S.: BELFORT 536 820 269
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NAF Code: 7010 Z
6.4
I
INCORPORATION AND TERM - ARTICLES OF
ASSOCIATION
Incorporation and term
The company was set up on July 5, 1968. Its term expires on July 4,
2067, excepting early dissolution or renewal.
Purpose
According to article 2 of the by-laws, the company’s purpose is:
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the acquisition of equity interests in all types of companies,
including commercial, manufacturing, financial, securities and
property development companies;
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the manufacture, purchase and sale of all items, especially those
relating to screws, nuts and bolts, forging, lathing and machine
tooling and building;
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where necessary, all transactions relating to the machine industry
and sale of related products;
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the direct or indirect participation in all transactions or business
matters that could have an impact on said business purpose or
which could help further the interests of the corporation, by any
means, including the creation of new companies, subscription
contribution, the purchase of shares and rights, etc.;
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and more generally, all commercial, securities and real estate
transactions, be they directly or indirectly related to the business
purpose or likely to facilitate its expansion or growth.
Financial Year
The company’s accounting period begins on January 1 and ends on
December 31 of each year.
Specific statutory clauses
Article 17 – Distribution of earnings
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Out of the distributable profit, all amounts the Shareholders’
General Meeting shall decide to carry forward to the next year
or allocate to the creation of extraordinary, contingency, or other
funds, with or without a special allocation, shall be withdrawn
first. The remainder is distributed between the shareholders, in
proportion to the share capital held.
General information regarding the company
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