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Safran said it has entered exclusive negotiations with Thales to acquire its aeronautical electrical systems business, which has employed nearly 600 people and generated revenues of $123 million in 2021.
The move will expand further the company’s business in the area of electrical power generation, particularly in the defense and helicopter markets, as Safran seeks to become an equipment manufacturer positioned across the whole electrical chain.
“The complementary nature of our expertise will also enable us to provide the market with ever more relevant and effective solutions,” said Stéphane Cueille, CEO, Safran Electrical & Power.
The facilities to be acquired from Thales include Thales Avionics Electrical Systems and Thales Avionics Electrical Motors companies in France, as well as support, maintenance and production activities for aeronautical electrical equipment in Orlando (USA) and Singapore.
Following this, Thales can refocus on its core businesses in aerospace, defense and security, and digital identity and security.
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