JJG Aero secures $12m funding from CX Partners
Indian aerospace components manufacturer, JJG Aero, has secured $12m in inaugural funding from CX Partners.
British engineering firm highlights impact of grounding 737 Max
British aerospace engineering company Senior is the latest Boeing supplier to highlight the impact of grounding the 737 Max, after reporting a first half profit drop of 16%.
The FTSE 250 aerospace firm said “the sector has been impacted” by the grounding, although it has mitigated some of the losses through stronger sales in other parts of its business.
Senior makes high-technology components and systems for the principal OEMs in the global aerospace and defence markets.
Profit before tax fell 16% to £26.5 million, while revenue rose 11% to £580.4 million.
Free cash flow fell 59% to £13.2 million, while net debt on the 30th June was £268.3 million.
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