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Safran Enters into a Definitive Agreement for the Sale of Globe Motors, Inc. - Safran announced that it has reached a definitive agreement to sell Globe Motors Inc., a US-based subsidiary of Safran, to Allied Motion, Inc. on the basis of an expected enterprise value of 90 million USD [NYSE Euronext Paris: SAF] - Safran-Group.com
Safran Enters into a Definitive Agreement for the Sale of Globe Motors, Inc.

 

PRZOOM - /newswire/ - Paris, Ile de France, France, 2013/08/23 - Safran announced that it has reached a definitive agreement to sell Globe Motors Inc., a US-based subsidiary of Safran, to Allied Motion, Inc. on the basis of an expected enterprise value of 90 million USD [NYSE Euronext Paris: SAF] - Safran-Group.com. PAR: SAF | SAFRAN

   
 
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The transaction is subject to customary closing conditions, including regulatory approvals and the successful arrangement of debt financing by Allied Motion, and is expected close in the second half of 2013.

Headquartered in Dayton, Ohio, Globe Motors designs, manufactures, and distributes standard and bespoke precision, subfractional horsepower motors and motorised devices internationally with applications in aeronautical (commercial and military), automotive and industrial markets. Globe Motors is part of Safran’s Aircraft Equipment activities and recorded revenue of 106 million USD in 2012.

Safran (safran-group.com) is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 62,500 employees and generated sales of 13.6 billion euros in 2012. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.6 billion Euros in 2012. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.

Investor relations
Pascal Bantegnie
T: +33(0)1 40 60 80 45 - E: pascal.bantegnie[.]safran.fr.

Peter Campbell
T:+33(0)1 40 60 35 96 - E: peter.campbell[.]safran.fr.

Safran
2, bd du Général Martial Valin
75724 Paris Cedex 15 - France

 
 
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Agency / Source: Safran Group

 
 

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Safran Enters into a Definitive Agreement for the Sale of Globe Motors, Inc.

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Safran Group | Allied Motion, Inc.
Contact: Catherine Malek - Safran.fr 
+33(0)1 40 60 80 28 catherine.malek[.]safran.fr
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Safran Group securities in any jurisdiction including any other companies listed or named in this release.

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