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Herakles Announces the Acquisition of Aerospace Propulsion Products (APP) - This operation will be completed once all final corporate approvals have been obtained - Herakles.com
Herakles Announces the Acquisition of Aerospace Propulsion Products (APP)

 

PRZOOM - /newswire/ - Cologne, Germany, 2014/05/19 - This operation will be completed once all final corporate approvals have been obtained - Herakles.com. PAR: SAF | SAFRAN

   
 
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Philippe Schleicher, Chairman and CEO of Herakles (Safran), J. Victor Elsendoorn, Managing Director of TNO Companies, and Frans Zee, Managing Director of APP, signed an agreement on April 23 for Herakles to acquire 70% of Aerospace Propulsion Products (APP), a company held by TNO. This operation will be completed once all final corporate approvals have been obtained.

APP, based in Klundert, Netherlands has 38 employees and is part of TNO Group. It is the European leader in igniters for space engines.

This signature clearly reflects the advantages of the successful partnership between APP and Herakles, which will combine their respective areas of expertise in pyrotechnic devices.

Philippe Schleicher, Chairman and CEO of Herakles, said: "We are delighted to sign this agreement. We have built a long-standing partnership with APP and we greatly appreciate its technology, which is critical for launch vehicles. We believe that the combination of APP’s and Herakles’ skills will drive both innovation and growth for both parties.”

This acquisition represents a strategic move for Herakles, since it will offer customers of Herakles and APP a comprehensive package for space applications. Herakles will ensure the continued growth of APP’s business in other sectors, including gas generation systems for industrial security.

According to J. Victor Elsendoorn, Managing Director of TNO Companies: “TNO Companies is very pleased with this agreement. We are always looking for strong partnerships for our companies, and we believe that Herakles is a great strategic partner for APP, one that can enhance APP’s business and ensure its future.”

Frans Zee, Managing Director of APP said: “APP is very proud to join Herakles. The technologies offered by Herakles (solid rocket motors), its subsidiary Pyroalliance (pyrotechnic devices) and APP (igniters) are in fact very complementary. Our companies also share a common goal, namely to develop cool gas generation technologies for extinguishers or other industrial applications, including in the aerospace industry.”

Herakles’ acquisition of a majority stake in APP is in fact key for both partners, since it will allow them to play a larger role in European Space Agency programs, while developing new competencies and business sectors.

APP is the European leader in igniters for rocket engines. The company develops and produces igniters and gas generators for aerospace and industrial applications. TNO Companies focuses on bringing the pioneering scientific knowledge developed by the Netherlands Organization for Applied Scientific Research TNO to the market. This is managed by TNO Companies by privatization and venturing with both financial and commercial players.

Herakles (herakles.com), a Safran company, designs, develops, produces and sells solid rocket motors, energetic materials and equipment, and thermostructural and organic composite materials for the defense, aerospace, automotive and manufacturing industries. Herakles provides products and services for a number of applications, including strategic and tactical missiles, launch vehicles, civil and military aircraft, automotive safety systems and tooling for manufacturers.

 
 
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Agency / Source: Safran Group

 
 

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Herakles Announces the Acquisition of Aerospace Propulsion Products (APP)

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Safran Group | Herakles
Contact: Antoinette Menard - Safran.fr 
+33(0)5 57 20 67 36 / +33(0)6 74 78 10 65 (mobile) antoinette.menard[.]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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