Reuters•11 months ago
Austria-based aeroplane parts maker FACC said on Wednesday it expects to substantially improve earnings in its current business year by increasing automation and by outsourcing production of some components. The Chinese-owned company, which supplies the world's leading planemakers, more than doubled its net profit to 39.7 million euros ($47 million) in the year to end-February from 15.2 million the previous year. "The initiatives to increase the level of automation and productivity and to outsource the production of simple composite parts to the supply chain will continue (in 2018/19)," FACC said in its annual report.