Safran consolidates electrical power activities within a single entity, Labinal Power Systems
Paris, January 6, 2014
Safran has created Labinal Power Systems, a new industrial entity consolidating all of its electrical power system activities. This new integrated entity, which covers all aircraft electrical power systems, places Safran in a strong position to continue its successful breakthrough in the expanding market for "more electric" aircraft.
Safran's new center of expertise mainly comprises Labinal (world leader in electrical wiring interconnection systems), Safran Power (a specialist in onboard power systems) and Aerosource (MRO services for airborne electrical equipment). It also includes Safran Engineering Services (specialist in engineering services, especially for electrical systems) and Technofan (ventilation systems and electric motors). Alain Sauret has been named Chairman and CEO of Labinal Power Systems, which counts 12,000 employees at 45 offices and facilities around the world.
Labinal Power Systems is included in Safran's Aircraft Equipment businesses and combines activities which were hitherto in this segment. Thus, the group's segment reporting is not impacted by this reorganization.
Through Labinal Power Systems, Safran is creating a world leader in electrical wiring interconnection systems (EWIS) and power systems. Safran is also bolstering its cross-disciplinary Research & Technology programs for all airborne electrical power systems, while expanding its engineering capabilities and fostering a more flexible organization.
"This consolidation marks a major step forward for Safran," said Marc Ventre, Deputy Chief Executive Officer for Operations. "It perfectly reflects our development strategy, anchored in technological differentiation. Safran is now capable of offering complete, world-class electrical power systems for aircraft. We have in our portfolio most major technology bricks relevant to aircraft electrical generation and distribution."
The inevitable trend towards "more electric" aircraft offers exciting new opportunities for Safran, which took a decisive step forward in 2012 by acquiring Goodrich Electrical Power Systems. At the end of 2013 Safran also signed a Memorandum of Understanding with Airbus to develop an electric taxiing system for the A320 family.
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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