Montana Aerospace announces flotation plans, wants to raise 400 million euros

ZURICH, April 23 (Reuters) - Aircraft components maker Montana Aerospace intends to float on the SIX Swiss exchange, it said on Friday, as it aims to boost its M&A firepower and organic growth in a rapidly consolidating industry.

The Austrian-Swiss company, which numbers Boeing BA.N and Airbus AIR.PA among its customers, wants to raise around 400 million euros from the IPO.

Montana, which makes components for wings and aircraft bodies, wants to become a consolidator in the highly fragmented aviation sector which has been battered by the COVID-19 pandemic and the Boeing 737 MAX safety crisis.

(Reporting by John Revill; editing by Brenna Hughes Neghaiwi)

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