CHICAGO and PARIS,
Nov. 9, 2018 /PRNewswire/
-- Boeing [NYSE: BA] and Safran [EPA: SAF] have received
regulatory approvals for a joint venture so they can begin
designing, building and servicing aircraft Auxiliary Power Units
(APUs)—onboard engines that are primarily used to start the main
engines and power aircraft systems while on the ground and, if
necessary, in flight. The companies also named Etienne Boisseau as Chief Executive Officer of
the joint venture.
The agreement establishes a partnership between two of the
world's leading aerospace companies to work together on APU
products and expanded service capabilities to benefit customers and
industry. Both companies have a 50 percent stake in the joint
venture. The initial team will perform design work in San Diego, Calif.
"Safran is proud to launch this joint venture with Boeing in
order to offer state-of-the-art APUs and enhance customer value.
Together, we are committed to delivering innovative, highly
technological and cost-competitive solutions to global customers.
We are confident this joint team will provide first-class products
and services within the best integrated industrial organization,"
said Philippe Petitcolin, CEO of Safran.
The joint venture combines Boeing's customer and airplane
knowledge and Safran's experience designing and producing complex
propulsion systems.
"We are open for business and excited to offer even more value
to our customers throughout the lifecycle of their investment. This
joint venture strengthens Boeing's vertical capabilities as we
continue to expand our services portfolio. By making strategic
investments that accelerate our growth plans, we also are providing
our customers with expanded, innovative services solutions," said
Stan Deal, President and CEO of
Boeing Global Services.
In addition to Etienne Boisseau,
others nominated to the joint venture's leadership team
include:
- Linda Hapgood, Chief Operating
Officer
- Erin Morrissey, Chief Financial
Officer
- Joan Inlow, Chief Technology
Officer
The name of the joint venture as well as the location of the
future headquarters and production and service facilities will be
announced at a later date.
Safran currently supplies a wide range of components to Boeing
commercial and defense programs, including as a partner to produce
CFM's LEAP-1B engine for the 737 MAX (through CFM International, a
50/50 JV between Safran Aircraft Engines and GE). Boeing and Safran
also are partners in MATIS, a joint venture in Morocco producing wiring products for several
airframe and engine companies.
About Boeing
Boeing is the world's largest aerospace company and leading
manufacturer of commercial airplanes and defense, space and
security systems. Boeing is also the world leader in combined
commercial airlines and government services with customers in more
than 150 countries. The company's products and tailored services
include commercial and military aircraft, satellites, weapons,
electronic and defense systems, launch systems, advanced
information and communication systems, and performance-based
logistics and training. Boeing employs approximately 140,000 people
across the United States and in
more than 65 countries.
Operating as one of Boeing's three business units, Global
Services is headquartered in the Dallas area. For more information, visit
www.boeing.com/services.
About Safran
Safran is an international high-technology group, operating in
the aircraft propulsion and equipment, space and defense markets.
Safran has a global presence, with more than 58,000 employees and
sales of 16.5 billion euros in 2017.
Working alone or in partnership, Safran holds world or European
leadership positions in its core markets. Safran undertakes
Research & Development programs to meet fast-changing market
requirements, with total R&D expenditures of around
1.4 billion euros in 2017. Safran is
listed on the Euronext Paris stock exchange, and is part of the CAC
40 and Euro Stoxx 50 indices.
In February 2018, Safran took
control of Zodiac Aerospace, significantly expanding its aircraft
equipment activities. Together with Zodiac Aerospace, Safran has
more than 91,000 employees and would have around €21 billion in
adjusted revenue (pro forma 2016).
For more information: www.safran-group.com / Follow @Safran on
Twitter
Contact
Caroline Hutcheson
Boeing Communications
caroline.n.hutcheson@boeing.com
312-544-2002
Catherine Malek
Safran Communications
catherine.malek@safrangroup.com
+33 (0)1 40 60 80 28
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SOURCE Boeing