Companies news
Safran acquires Thales' aeronautical electrical systems activities
Toulouse – Monday, October 2, 2023 - Safran Electrical & Power today completed the acquisition of Thales' aeronautical electrical systems business, which covers electric conversion, power generation, and motors for civil and military aircraft. Safran Electrical & Power's growing expertise, particularly in conversion, strengthens its position as a leader in the entire aircraft electrical chain. This buyout follows exclusive negotiations announced in September 2022.
Thales's aeronautical electrical systems business employs nearly 600 people and generated revenues of €145 million in 2022.
This acquisition includes Thales Avionics Electrical Systems and Thales Avionics Electrical Motors in France, with sites in Chatou, Meru, and Conflans-Sainte Honorine. It also includes the support, maintenance and production activities for aeronautical electrical equipment in Orlando (USA) and Singapore. Business activities in France are integrated into Safran Electrical & Power with immediate effect.
Business activities in the USA and Singapore will be absorbed at the end of a transition period, during which the necessary certification approvals will be obtained.
"Thanks to these new electrical skills, particularly in conversion, we are adding a new string to the bow of our business portfolio and consolidating Safran Electrical & Power's leading position across the entire electrical chain. This acquisition will enable us to bring even more relevant and effective solutions to the market. We look forward to working with the new teams on decarbonizing aviation through electric power," comments Stéphane Cueille, CEO of Safran Electrical & Power.
SOURCE: SAFRAN
