Safran Group and Baynuna Group sign two partnerships at Dubai Airshow
Dubai, UAE, November 15, 2009
In the perspective of taking an active role in the development of cutting-edge technologies in the United Arab Emirates, the Safran group signed today two joint venture agreements with a significant UAE partner, the Baynuna group:
- "Snecbat Engine Technologies", a joint-venture between Snecma (Safran group) and Baynuna Aviation Technology
- "Sagembat Defense", a joint-venture between Sagem (Safran group) and Baynuna Aviation Technology
Snecma Chairman and CEO Philippe Petitcolin, Sagem Chairman and CEO Jean-Lin Fournereaux, and Baynuna Aviation Technology Chairman Khalid Abdullah Al Bu-Ainnain signed at the Dubai Airshow the Memorandums of Association (LLC) for the establishment of the two joint-ventures, in a ceremony attended by Jean-Paul Herteman, CEO of Safran, and other high level Safran representatives.
Based in Abu Dhabi, these joint ventures are dedicated partnerships committed to developing high-tech aero-engine solutions (Snecbat Engine Technologies) and advanced defense technologies and solutions (Sagembat Defense) for the United Arab Emirates, the GCC and MENA region. Snecbat and Sagembat will also develop state-of-the-art skills and high-tech expertise to support the UAE's increased independence in advanced aviation and defense systems.
Snecbat will provide manufacturing capabilities and long-term support services for both Snecma and the UAE Air Force and Air Defense. In particular, it will deploy logistic support services for the current M53-P2 fleet, as well as other fleets, to ensure optimum serviceability and operability. This agreement reflects Snecma's solid commitment to bolstering collaboration with the UAE partners on major military aviation programs, and represents a large step forward in the development of a center of aeronautical expertise in the UAE.
Sagembat Defense will deploy strong industrial capabilities in R&D and high volume manufacturing, in order to offer the highest service in developing, delivering and supporting military high-tech products to the UAE Air Force & Air Defense. Such capabilities will allow UAE access to cutting edge military aviation technologies, especially in smart weapons, and will widen the spectrum of activities where the UAE industrial leadership in advanced aerospace systems will benefit to the whole Gulf and MENA region.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defense and Security. Operating worldwide, the Safran group has 54,500 employees and generated sales exceeding 10 billion euros in 2008. 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 1.2 billion euros in 2008. Safran is listed on NYSE Euronext Paris and its share is part of the SBF 120 and Euronext 100 indexes.
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