Airbus Group SE (stock exchange symbol: AIR) and Safran (stock exchange symbol: SAF) will finalise today the creation of their Airbus Safran Launchers 50/50 Joint Venture, which becomes a fully-fledged operational company.
Airbus Safran Launchers was already managing launcher programme activities and associated equity stakes, and with this closing the company officially incorporates the parent companies' assets and subsidiaries related to its core business.
Airbus Safran Launchers is a world-class company, with about 8,400 employees in France and Germany. It is the head company in a group comprising 11 subsidiaries and affiliates, all leading players in their fields: APP, Arianespace, Cilas, Eurockot, Eurocryospace, Europropulsion, Nuclétudes, Pyroalliance, Regulus, Sodern and Starsem. Airbus Safran Launchers inherits a rich portfolio of products and services, enabling it to deliver innovative and competitive solutions to numerous customers around the world.
Today's final step is the culmination of an ambitious strategic initiative, started in 2014, to reshape the launcher industry in Europe and better serve French, German and European strategic interests.
Tom Enders, CEO of Airbus Group, said: "With the closing of this agreement, Airbus Safran Launchers becomes fully operational and will focus all its efforts on delivering more competitive solutions to its customers. Top of the list is the next generation Ariane 6 launcher, which is due to have its maiden flight as early as 2020."
Philippe Petitcolin, CEO of Safran, said: "I would like to extend my warm thanks to our customers, partners, suppliers and, of course, our employees, for their support and trust during this process. Achieving such a radical transformation is a complex and challenging task. But it sets us firmly on the path to a more integrated, more efficient and more competitive European launcher industry."
In order to obtain a 50% stake in Airbus Safran Launchers, Safran will make an economic equalisation of €750 million.
Source: Safran S.A. (Paris: SAF.PA)
Date: Jun 30, 2016