European space industry operational: Agreement Signed for Airbus Safran Launchers JV
- European launcher industry takes decisive consolidation step
- Closing of agreement expected in Q2 2016
- Phase 2 of transaction is a decisive step for Ariane 6 new generation launcher
Amsterdam/Paris, 02 May 2016 – Airbus Group SE (stock exchange symbol: AIR) and Safran (stock exchange symbol: SAF) have signed an agreement for the second and final phase of their 50/50 joint venture, Airbus Safran Launchers.
Both companies will contribute to the current joint program with industrial assets dealing with civil space launchers and military launchers.
Closing of the deal is expected in the second quarter of 2016 after completion of the remaining corporate and other formalities. Financial details of the transaction will be communicated at closing.
Under the first phase of the JV, Airbus Group and Safran created a joint programme company with their respective civil programme contracts and major participations related to civil launcher activities.
In this second and final phase, industrial assets and military launchers will be integrated in the joint-venture. Airbus Safran Launchers will be a fully fledged operational company.
Airbus Safran Launchers will employ around 8,000 staff and provide competitive solutions based on a family of versatile, high-performance, cost-competitive launchers that meet the needs of both government and commercial customers. This deal will ensure the success of the European space launcher business in the face of growing international competition.
Airbus Group is a global leader in aeronautics, space and related services. In 2015, the Group – comprising Airbus, Airbus Defence and Space and Airbus Helicopters – generated revenues of € 64.5 billion and employed a workforce of around 136,600.
About Airbus Safran Launchers
The creation of Airbus Safran Launchers opens a new chapter in the history of the launcher industry. Reflecting the joint ambition of Airbus Group and Safran to boost the European space industry to unscaled heights, our new company will develop innovative and competitive solutions by uniting the strengths of two leading contributors to modern launch vehicles. Airbus Safran Launchers is equally owned, combining Airbus Defence and Space's expertise in launchers (especially in France and Germany), and Safran's expertise in liquid and solid rocket propulsion.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 70,000 employees and generated sales of 17.4 billion euros in 2015. Working independently 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 more than 2 billion euros in 2015. Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter
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