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European Space Industry Operational - Agreement Signed for Airbus Safran Launchers JV - Airbus Group SE and Safran have signed an agreement for the second and final phase of their 50/50 joint venture, Airbus Safran Launchers - AirbusGroup.com / Safran-Group.com
European Space Industry Operational - Agreement Signed for Airbus Safran Launchers JV

 

PRZOOM - /newswire/ - Amsterdam, Netherlands, 2016/05/02 - Airbus Group SE and Safran have signed an agreement for the second and final phase of their 50/50 joint venture, Airbus Safran Launchers - AirbusGroup.com / Safran-Group.com. PAR: SAF | SAFRAN

   
 
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• European launcher industry takes decisive consolidation step;
• Closing of agreement expected in Q2 2016;
• Phase 2 of transaction is a decisive step for Ariane 6 new generation launcher.

Both companies will contribute to the current joint program with industrial assets dealing with civil space launchers and military launchers.

Closing of the deal is expected in the second quarter of 2016 after completion of the remaining corporate and other formalities. Financial details of the transaction will be communicated at closing.

Under the first phase of the JV, Airbus Group and Safran created a joint programme company with their respective civil programme contracts and major participations related to civil launcher activities.

In this second and final phase, industrial assets and military launchers will be integrated in the joint-venture. Airbus Safran Launchers will be a fully fledged operational company.

Airbus Safran Launchers will employ around 8,000 staff and provide competitive solutions based on a family of versatile, high-performance, cost-competitive launchers that meet the needs of both government and commercial customers. This deal will ensure the success of the European space launcher business in the face of growing international competition.

Airbus Group is a global leader in aeronautics, space and related services. In 2015, the Group comprising Airbus, Airbus Defence and Space and Airbus Helicopters generated revenues of € 64.5 billion and employed a workforce of around 136,600.

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 70,000 employees and generated sales of 17.4 billion euros in 2015. Working independently 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 more than 2 billion euros in 2015. Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.

Contacts Airbus Group: Martin Agëra / Matthieu Duvelleroy / Rod Stone
P: +49(0)175 227 4369 / +33(0)1 46 97 44 40 / +33(0)6 30 52 19 93

Contacts Safran: Peter Campbell - Analystes & Investisseurs
P: +33(0)1 40 60 35 96

 
 
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Agency / Source: Safran Group

 
 

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European Space Industry Operational - Agreement Signed for Airbus Safran Launchers JV

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Airbus Safran Launchers | Safran Group
Contact: Catherine Malek - Safran.fr 
+33(0)1 40 60 80 28 catherine.malek[.]safran.fr
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
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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