Umeco to announce airline link

13 April 2012

AEROSPACE parts distributor Umeco will announce tomorrow that it has set up a joint venture company in Germany to supply maintenance business Lufthansa Technik.

Umeco's chemicals supply arm Aeropia has won a minimum two-year contract worth £4.8 million to supply aerospace chemicals to the company, part of the Lufthansa airline group.

The contract will be the latest good news for Umeco, whose share price has suffered in the aerospace slump of recent years, but has rebounded from a low of 1981/ 2p in April to last week's close of 336 1/2p.

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