Safran has announced that it is in negotiations with Thales to acquire its aeronautical electrical systems business – the electric power conversion activity, which also plays a role in power generation and electric motors in the civil and military aeronautics sector.
The company reports that Thales’s aeronautical electrical systems business employs nearly 600 people and generated revenues of €124 million in 2021 and continues “the proposed acquisition includes Thales Avionics Electrical Systems and Thales Avionics Electrical Motors companies in France, with sites in the Paris region in Chatou, Meru, and Conflans-Sainte-Honorine, as well as the support, maintenance and production activities for aeronautical electrical equipment in Orlando (USA) and Singapore.
“With this acquisition, Safran Electrical & Power aims to pursue its strategy as an equipment manufacturer positioned across the whole electrical chain. The electrical conversion business would make a significant contribution to Safran’s portfolio of activities, which would expand further in the area of electrical power generation, particularly in the defense and helicopter markets.
“For Thales, the potential sale is part of the Group’s strategy to refocus on its core businesses in aerospace, defense and security, and digital identity and security.
“The proposed transaction is subject to the information and consultation procedure with the relevant employee representative bodies of Thales and Safran, as well as the usual regulatory approvals. The transaction is expected to take place in 2023.”
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(Image: Safran)