RSS   Newsletter   Contact   Advertise with us

Safran launches $9 billion agreed bid for Zodiac Aerospace

Staff Writer | January 19, 2017
Safran launched a $9 billion agreed bid for Zodiac Aerospace to create the world's third-largest aerospace supplier as the industry bulks up to tackle record high output plans.
Acquisition   The third-largest aerospace supplier
The deal comes three months after Zodiac's rival B/E Aerospace agreed to be absorbed by Rockwell Collins (COL.N) and six years after Zodiac's family shareholders rebuffed an approach from part-privatised Safran.

Safran has frequently been linked with Zodiac as suppliers combine technologies and after-sales services to support record aircraft production plans. However, some analysts have warned such a tie-up is risky as Zodiac recovers from industrial problems.

Safran Chief Executive Philippe Petitcolin said he was not worried about Zodiac's recovery from a nearly three-year crisis in its U.S. seats manufacturing plants and pledged not to let the deal distract Safran from development of new LEAP engines for Airbus and Boeing.

"Don't worry, there will be no transfer of skills from LEAP," he told reporters in a conference call.