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2010

23.08.2010
Labinal acquires Harvard Custom Manufacturing

PRESS RELEASE

Paris, August 23, 2010

Labinal, Inc. a company of the Safran group, announced today it has entered into an agreement to acquire Harvard Custom Manufacturing, Inc (HCM). Located in Salisbury, Maryland, HCM produces electrical wiring systems for industry leaders in the commercial and military aerospace industry.

“The acquisition of Harvard Custom Manufacturing represents a great opportunity for Labinal to expand its global customer presence and product offering. HCM’s manufacturing expertise and customer service excellence will be great additions to Labinal’s business. Bringing together complementary product lines and services in commercial and military markets, this acquisition strengthens our collective response to market demands. We are very excited to have the HCM team join Labinal.” said Jorge Ortega, VP and General Manager of Labinal North America Wiring Division.

“We are likewise excited about the opportunity to join forces with Labinal. Our companies share a common commitment to excellence in serving the aerospace electronics market and both firms have a long track record of success in this industry. We believe that the combination of our expertise in the defense aerospace sector combined with Labinal’s global presence will enable us to serve our customers in a stronger and expanded fashion. We are also pleased with Labinal’s commitment to the community and our employees and the opportunities they will have as part of the Labinal organization,” said Greg Moffitt, CEO of HCM.

Harvard Custom Manufacturing is intended to continue to operate without disruption to its diverse customer base. Pending receipt of regulatory approvals and other customary closing conditions, Labinal expects the transaction to be finalized by the end of the year.

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About Labinal One of the Safran group’s high tech companies, Labinal is a world leader in the field of electrical wiring systems – and studies in their engineering and associated technology – for the aviation, space and defense markets. The company’s unmatched expertise is founded on decades of design, development and manufacturing success with long-term partnerships with the leading aerospace companies. Labinal’s industrial activities, market segment oriented and customer-driven, are organized in four Divisions: Europe Wiring, North America Wiring, Safran Engineering Services and Labinal Services.