Safran to buy electrical power systems business of Goodrich for $401 mn
16 Oct 2012
French aerospace group Safran today agreed to buy the electrical power systems business (Goodrich Electric Power Systems - GEPS), of Goodrich, a subsidiary of United Technologies, for around €310 million ($401 million) in cash.
The deal includes GEPS' 60-per cent stake in Aerolec, a joint venture with Thales. Aerolec is a supplier to Airbus for the main electrical power generation of the A380 and A400M programs.
GEPS makes electrical generators and power distribution systems for the entire aerospace and defence market, from light jets and helicopters, to next-generation airliners and military aircrafts.
Paris-based Sarfan said that GEPS brings new capabilities to its own product offering, including the critical electrical power generation know-how and experience which is the heart of electrical power systems.
The acquisition will allow Safran to continue to develop new leading-edge solutions for the electrification of aircraft equipment, including landing gear, nacelle and equipment linked to power transmissions and closer integration of electrical systems with the aircraft engine.
Safran's electrical power systems activities will benefit from GEPS revenues derived from a strong installed base on all types of aircraft including commercial, business jets, helicopters and military, which includes A380, A320ceo, A320neo, Embraer ERJ145 family, Dassault Falcon 7X and Bombardier GX and associated growing aftermarket revenues.