Safran announces the creation of Herakles, merging SME and SPS

Safran is finalizing the merger of its two subsidiaries, SME (specializing in energetic materials) and Snecma Propulsion Solide (a specialist in solid rocket motors for missiles and launchers). This link-up is the culmination of a project that began on April 5, 2011 with Safran’s acquisition of SME. The new entity is called Herakles, and it makes Safran a world leader in solid propulsion, which is a key to both ballistic missiles and launch vehicles.

Herakles will be organized around a Research & Technology division staffed by more than 450 experts. It operates in five business sectors: Strategic Propulsion, Tactical Propulsion, Space Propulsion, Aeronautics and Thermostructural Composites, and Manufacturing and Organic Matrix Composites.

Herakles and its subsidiaries / affiliates Pyroalliance, Structil, Roxel, Europropulsion, Regulus, Suzhou SME-ChangQing have more than 3,000 employees. Most are based in the Bordeaux region of France, at plants in St. Médard en Jalles and Le Haillan. This new Safran group company should generate annual sales of nearly 700 million euros.

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"The decision to form a single company for solid propulsion is a key to the emergence of a world leader in this field, and Safran has risen to this challenge by creating Herakles," said Philippe Schleicher, Chairman and CEO of Herakles.

"Melding the complementary skills of SME and SPS is a highly logical move in today’s environment," added Hervé Austruy, Deputy Chief Executive Officer of Herakles. "It bolsters our international positions and gives us significant competitive advantages in terms of our expertise, operational support and technological innovations."

Source: Safran S.A. (Paris: SAF.PA)
Date: Apr 30, 2012