Safran and AVIC sign two MOUs to consolidate their strategic partnership
Paris Air Show, Le Bourget, June 20, 2011
Jean-Paul Herteman, Chairman and CEO of Safran, and Lin Zuoming, President of AVIC, today signed two Memorandums of Understanding (MOU) covering aircraft engines and avionics, to extend their general strategic partnership agreement signed in 2010.
The first MOU establishes a clear framework for collaboration between Safran and AVIC, particularly concerning the development of new-generation turboshaft engines for heavy helicopters intended for both the Chinese market and international markets. This agreement, which also includes turboprop derivatives, bolsters the strong collaboration in engine production that the two companies have developed over the last 30 years.
The second MOU sets out the terms and conditions for collaboration between the two companies on avionics equipment for all types of aircraft, including helicopters. Safran and AVIC have teamed up in this market since the 1980s, in particular on autopilot technologies for the Z9 helicopter.
Safran's experience in aircraft propulsion and equipment, coupled with the expertise and industrial capabilities of AVIC, will enable the two partners to submit even more competitive proposals in the Chinese market, and to take advantage of the many upcoming opportunities in the international aviation market.
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.
For more information, www.safran-group.com
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