Key Developments: Safran SA (SAF.PA)
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Latest Key Developments (Source: Significant Developments)
European Aeronautic Defence and Space Company EADS NV's Eurocopter, Safran SA's Turbomeca and WZL-1 Sign Industrial Cooperation Agreement
European Aeronautic Defence and Space Company EADS NV announced that its subsidiary Eurocopter, Safran SA's Turbomeca and WZL-1 have signed industrial cooperation agreements that include the creation of two separate full assembly lines within Poland for the EC725 Caracal helicopter and its Makila 2 turboshaft engines in the framework of Poland's current tender for 70 new multi-role helicopters. The agreement includes an industrial work package that also includes training for locally-hired workers, along with a comprehensive maintenance, repair and overhaul (MRO) capability that will last far beyond the duration of the contract itself – and potentially be open to future export contracts. Full Article
Safran SA Completes the Acquisition of Goodrich Electrical Power Systems
Safran SA announced that it has finalized the acquisition of Goodrich Electrical Power Systems (GEPS), a supplier of on-board aerospace electrical power systems. The cash consideration for the transaction amounts to approximately EUR 300 million. GEPS will be consolidated within Safran’s existing Aircraft Equipment business with effect from April 1, 2013. Full Article
France Launches Sale Of 3.12% Stake In Safran SA-Reuters
Reuters reported that France said it was launching the sale of a 3.12% stake in aerospace group Safran SA and would use the proceeds to fund investments to bolster its economy. The sale, which covers 13 million shares held by the French state, will take the form of a placement with institutional investors via an accelerated book-building, the finance ministry said in a statement. Full Article
Safran SA's Morpho Supplies Sweden’s New Drivers' Licenses and Digital Tachograph Cards
Safran SA announced that Morpho (Safran) has been awarded a contract by the Swedish Transport Agency (Transportstyrelsen) to produce secure drivers' licenses and digital tachograph cards. Sweden began issuing the new driver licenses in January 2013 and is set to start issuing the digital tachograph cards later this year. Sweden’s redesigned driver licenses and digital tachograph cards will integrate Morpho’s latest security features to comply with new European Union standards and provide protection against document fraud. The financial terms of the deal were not disclosed. Full Article
Safran SA's Sagem Wins Design Study Contract
Safran SA announced that French defense procurement agency DGA has awarded Sagem (Safran) a design study contract concerning inertial navigation systems for new-generation tactical missiles. According to the terms of this contract, Sagem is responsible for the design and construction of inertial reference units for these missiles.The financial terms of the deal were not disclosed. Full Article
Joint Venture between FADEC International (Safran SA's Sagem-BAE Systems plc) and General Electric Co Named CFM International’s Exclusive Supplier the LEAP Engine Family
Safran Sa announced that FADEC Alliance, a joint venture between aircraft engine electronic control specialist FADEC International (Safran SA's Sagem-BAE Systems) and General Electric Co, has been named CFM International’s exclusive supplier for the LEAP engine family. FADEC Alliance teams will develop four specific versions of Fadec 4 – one for each of the three LEAP versions and one for the Passport. The first ECUs are scheduled to be delivered and the engines run on test stands in mid-2013. Eventually the Fadec, assembled in the United States and France, will equip 15,000 engines. The financial terms of the deal were not disclosed. Full Article
Safran SA's Morpho Divests Part of its Stake in Ingenico SA
Safran SA announced that Morpho has divested part of its stake in Ingenico SA by way of a private placement, through an accelerated book building process. 6.6 million shares representing 12.57% of the share capital of Ingenico, were sold at a price per share of EUR 43.45, for a total amount of EUR 286.8 million. The resulting after tax profit for Safran, calculated on the basis of a value per Ingenico share of EUR 22.74 in Safran's consolidated accounts at December 31, 2012, is approximately EUR 130 million and will be recorded in Safran's first half 2013 consolidated accounts. The Company retains 10.2% of the share capital and approximately 17% of voting rights of Ingenico SA. Full Article
Safran SA's MorphoTrust Wins Contract with United States Department of Defense to Maintain Biometrics Platform
Safran SA announced that MorphoTrust USA (Safran) has won a contract to maintain the central biometrics platform of the United States Department of Defense (DoD) – a platform MorphoTrust originally provided to DoD in 2008. The maintenance contract for the Automated Biometric Identification System (ABIS) is worth USD 17.8 million — USD 3.6 million a year with four one-year options. MorphoTrust owns ABIS and licenses it to customers, including DoD, which uses ABIS as its technology platform for multi-modal biometrics. DoD purchased an enterprise-wide license for the platform in 2010. Specifically, DoD uses ABIS to quickly and accurately match fingerprints and facial and iris images, along with other biometric functions, to support the DoD’s mission of identifying and providing intelligence on persons of interest who could potentially pose a threat to national security or those engaged in warfighting missions. In addition to DoD’s core application, Next Generation ABIS, the MorphoTrust ABIS license serves as the foundation for eight other biometrics systems. The current contract calls for MorphoTrust to provide ongoing software maintenance and support for all DoD systems based on ABIS. Full Article
Safran SA and General Electric Co's CFM International Signs Agreement with AviancaTaca Valued at USD 2.7 Billion
Safran SA announced that AviancaTaca Holdings has selected the advanced technology LEAP-1A engines to power 33 Airbus A320neo family aircraft, in addition to ordering CFM56-5B engines to power an additional 18 Airbus A320ceo family aircraft. The airline has also opted for a comprehensive engine maintenance service package. The agreement has a total combined value of USD 2.7 billion at list price. AviancaTaca signed a 15-year RPFH (Rate per Flight Hour) agreement to support both the new CFM56 and LEAP engine fleets under which CFM will guarantee maintenance costs on a dollar per engine flight hour basis. Deliveries of the A320ceos are scheduled between 2014 and 2016, while the A320neos will be delivered in the 2017 to 2019 timeframe. The airplanes were originally announced in June 2011. Full Article
Safran SA's CFM Receives Order Worth USD 500 Million from CALC
Safran SA announced that China Aircraft Leasing Company (CALC) has selected CFM's CFM56-5B engines to power 25 new Airbus A320 family aircraft. The firm engine order is valued at USD 500 million at list price and deliveries are scheduled between 2014 and 2016. Full Article
Hollande rules out early France Telecom, GDF share sales
PARIS - French President Francois Hollande on Sunday ruled out an early sale of any state holdings in France Telecom or utility GDF Suez , saying market valuations were too low.
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