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Safran SA (SAF.PA)

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Latest Key Developments (Source: Significant Developments)

Zodiac Aerospace announces continuation of discussions with Safran
1:00am EDT 

April 28 (Reuters) - Safran SA ::Continuation of discussions with Safran <<>> with a view to complete transaction.H1 profitability strongly impacted by additional costs of aircraft interiors branch and by an unfavorable mix in aerosystems branch.Anticipate a strong rebound of our profitability for H2 2016/2017.Seats UK has been through serious operational problems in ramp up of business seats programs, which have triggered unanticipated extra costs of around EUR 40-50 million ($43.5-54.3 million).Zodiac seats UK's difficulties should be curbed by December 2017.In seats UK difficulties encountered during H1 will lead to new extra costs in H2, especially penalties.Olivier Zarrouati accepted to remain CEO for a while, focusing on finalization of Safran deal, if Safran and Zodiac come to a renewed deal.  Full Article

Safran announces technology partnership with Prodways Group
Wednesday, 26 Apr 2017 01:46am EDT 

April 26 (Reuters) - Safran : :Announces technology partnership with Prodways Group.Partnership agreement signed by Safran and Prodways Group concerns the development of printable materials and assembly processes for these materials with inorganic compounds.Safran Corporate Ventures is taking a stake in Prodways.Safran Corporate Ventures, in conjunction with FIMALAC and BNPP, has subscribed convertible bonds prior to stock market listing of Prodways Group on Euronext Paris, announced today.The five-year partnership contract is non-exclusive, and is renewable by a jointly agreed amendment.  Full Article

Safran completes sale of its detection activities.
Friday, 7 Apr 2017 02:06am EDT 

Safran says in a statement: Announces the completion of the sale of Morpho detection llc and other detection-related activities to Smiths Group plc .Safran says that as announced on April 21, 2016, it will record a pre-tax capital gain in its first half 2017 accounts..  Full Article

Safran announces successful syndication of 4 billion euros acquisition bridge facility
Monday, 13 Mar 2017 03:50am EDT 

Safran : The syndication of the 4 billion euros bridge facility was successfully closed on March 6, 2017 . The facility, underwritten fully by Bank of America Merrill Lynch who also serves as bookrunner, was syndicated within a group of Safran's relationship banks. . The facility, supported by 12 banks as mandated lead arrangers, was oversubscribed by 70% . The bridge facility has a maturity of 12 months, with two 6-month extension options Further company coverage: [SAF.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Safran to acquire up to 200 mln euros worth of shares by June 14
Monday, 27 Feb 2017 12:05pm EST 

Safran : Will acquire up to euro 200 million worth of shares no later than june 14, 2017 .Unit price may not exceed maximum of euro 80 per share set by may 19, 2016 annual shareholders' meeting.  Full Article

Safran exec says producing 6 LEAP-1A engines a week
Friday, 24 Feb 2017 06:00am EST 

Olivier Andries, CEO Safran Aircraft Engines at news briefing:CFM producing 6 LEAP engines a week for Airbus A320neo version (LEAP-1A).  Full Article

Safran Reosc to manufacture light path mirrors for Apollon laser
Monday, 6 Feb 2017 05:00am EST 

Safran : Safran Reosc signs a contract with CNRS (National Center for Scientific Research) to manufacture high-performance light path mirrors for the Apollon laser being built by the CILEX interdisciplinary extreme light center, or Centre Interdisciplinaire Lumiere Extreme . Safran Reosc to deliver all mirrors for Apollon until the end of 2017 and to manufacture more than 60 mirrors for the Apollon laser Further company coverage: [SAF.PA] (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

BRIEF-European Commission clears Smiths, Morpho Detection deal
Thursday, 19 Jan 2017 06:03am EST 

Smiths Group Plc : EC clears Smiths acquisition of Morpho Detection . Welcomes European Commission clearance for acquisition of Morpho Detection . In order to secure approval in phase I of EU Merger review process, Smiths Group proposed divestment of Morpho Detection's explosive trace detection business . Divestment is conditional on successful closing of Smiths Group's acquisition of Morpho Detection and on European Commission's approval .Continues to engage with these authorities in order to secure necessary clearances as soon as possible.  Full Article

Safran says Zodiac deal will not dilute focus on LEAP engine development
Thursday, 19 Jan 2017 02:30am EST 

Safran CEO Philippe Petitcolin : Says not worried about Zodiac Aerospace recovery from industrial problems . Safran CEO says Zodiac synergies will be much higher than the annual 200 million euros already identified . Safran ceo says LEAP engine development on track, will not divert any resources from this due to Zodiac merger Further company coverage: [SAF.PA][ZODC.PA] (Reporting By Tim Hepher) ((tim.hepher@thomsonreuters.com;)).  Full Article

Safran signs contract to support Danish EH101 engines
Wednesday, 27 Jul 2016 08:44am EDT 

Safran SA :Safran signs contract to support Danish EH101 engines.  Full Article

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