Safran completes the sale of Globe Motors Inc.
Paris, October 22, 2013
Safran (NYSE Euronext Paris: SAF) today announced that it has finalized the sale of Globe Motors Inc., a US-based subsidiary of Safran, to Allied Motion Inc. on the basis of an enterprise value of approximately 90 million USD. The definitive agreement for the sale of Globe Motors was originally announced on August 23, 2013.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 62,500 employees and generated sales of 13.6 billion euros in 2012. 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 1.6 billion Euros in 2012. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter
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