Latest Aviation News Civil aerospace SAFRAN WINS CONTROL OF ZODIAC TO CREATE AIRCRAFT SUPPLY GIANT

Safran wins control of Zodiac to create aircraft supply giant

AFP
06/02/2018 | 183 words

French aerospace company Safran has won a majority stake in Zodiac Aerospace after a friendly bid, the French financial markets regulator said Monday, a key step towards the creation of a global aircraft equipment giant.

Zodiac shareholders owning a combined 79.74 percent of stock had delivered their shares, originally pitched by Safran at over 29 euros each but later reduced to 25 euros each, by the January 31 deadline, the AMF regulator said.

Stock market operator Euronext is to report a final figure soon.

Safran makes aircraft engines and Zodiac is a leading supplier of aircraft seats. Both are based in France.

Launching the bid in December, Safran said the merged group would benefit from "global leadership positions across the whole aircraft value chain" with combined revenues of more than 20 billion euros.

It would become one of the world's largest aerospace groups, competing with the likes of sector giant United Technologies.

The two companies employ a combined 92,000 people, 45,000 of whom work in France.

 
 
 
15/11 Thierry Tosi : "Rockwell Collins proposes flexible solutions with significant growth rates"
15/11 MRO: Malaysia Airlines is transforming itself to become competitive in the market once again
15/11 MRO: Engine shops overheating in Asia
15/11 Pratt & Whitney plots a course for Europe again
15/11 Aviation maintenance: the dash to the East
15/11 Lion Air: a deadly crash and a whole lot of questions for Boeing
10 MINUTES AGO
LUXAIR selected NYCO's Turbonycoil 600 turbine oil for its fleet of Boeing 737NG and Bombardier Q400 aircraft. The (...)
2 HOURS AGO
BOEING announces that the first 777X for flight testing has been assembled, with the final body join phase (...)
20 HOURS AGO
NORTHROP GRUMMAN has been awarded a $489,92 for the Japan Global Hawk program. The contract provides (...)
21 HOURS AGO
Singapore's SELETAR airport has opened its new passenger terminal on 19 November. The new facility is ready to (...)
20 NOV 2018
JEJU AIR has ordered forty 737 MAX 8s from BOEING, with options for ten additional aircraft. This is (...)
ALERTAVIA, the News platform for Aerospace and Defense industry Professionals.

Featured Content
AFI KLM E&M steps up a gear on CFM's LEAP
Sabena technics finally gets back on-board C-130Hs
Airbus and Thai Airways to launch a new joint venture MRO facility at U-Tapao
How Thai Airways will Expand Rolls-Royce's Trent Engine Service Network
China embarks on board aircraft recycling
LATEST NEWS   CIVIL AEROSPACE   MRO & SUPPORT   AIR TRANSPORT   DEFENCE   SPACE
Follow us
© 2018 Le Journal de l'Aviation - All rights reserved

By continuing to use the site, you agree to the use of cookies. You can find out more by following this link.  OK  Find out more