German aircraft engine maker MTU Aero Engines AG (MTX.XE) and Sagem, a unit of France's Safran S.A. (SAF.FR), have signed a memorandum of understanding for a joint venture to develop aviation software and hardware, MTU said Thursday.

MAIN FACTS:

-The products will be used for both military and civil aviation.

-The 50-50 joint venture will be located at MTU's facilities in Munich and start operation in 2012.

-The joint venture will gather together around 200 engineers, mainly from MTU.

-Main products will include safety-critical engine controls used, for example, by EADS's (EAD.FR) A400M military transport aircraft, as well as controls for landing gear, brake systems, and information systems.

-The venture is aimed at coping with decreasing military budgets, MTU chief executive Egon Behle said in the release.

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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