Safran finalizes acquisition of SNPE Matériaux Energétiques
Paris, April 5, 2011 Safran (NYSE Euronext Paris: SAF) announced today that it has finalized the acquisition from SNPE Group of SNPE Matériaux Energétiques (SME) and its subsidiaries, including a 50% stake in Roxel (manufacturer of solid rocket motors for tactical missiles), and a 40% stake in Regulus (manufacturer of launcher propellants, based in Kourou, French Guiana). These businesses, whose consolidation into Safran's accounts takes effect today, should generate prorated sales of more than 200 million euros in 2011, with a recurring operating margin of nearly 10%. The next step would be to bring together SME's operations with those of Snecma Propulsion Solide (Safran group), based near Bordeaux, creating one of the two world leaders in solid rocket propulsion, a key technology for European launch vehicles and missiles. The new entity will have annual sales of nearly 600 million euros and 3,000 employees, including 600 engineers and scientists. Safran has received specific guarantees concerning environmental liabilities related to the past activities of SNPE Matériaux Energétiques.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security.
Operating worldwide, the Safran group has more than 54,000 employees and generated sales of 10.8 billion euros in 2010. 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 2010. Safran is listed on NYSE Euronext Paris and its share is part of the CAC Large 60 index. Press
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