PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Safran Group

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Safran to Acquire the Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions Business of Eaton - Safran to acquire the Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business of Eaton, reinforcing Safran’s strategy over the electrical energy chain - Safran-Group.com
Safran to Acquire the Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions Business of Eaton

 

NewswireToday - /newswire/ - Paris, Ile de France, France, 2014/01/20 - Safran to acquire the Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business of Eaton, reinforcing Safran’s strategy over the electrical energy chain - Safran-Group.com. PAR: SAF | SAFRAN

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Safran (NYSE Euronext Paris: SAF) today announces the signature of a definitive agreement to acquire the Aerospace Power Distribution Management Solutions and the Integrated Cockpit Solutions business of Eaton.

The acquisition of the Aerospace Power Distribution Management Solutions business brings key contactor and circuit breaker technologies to Safran. As the continuation of Safran’s strategy addressing the market for “more electric aircraft”, it reinforces Labinal Power Systems, which consolidates the group’s electrical power activities.

The acquisition of the Integrated Cockpit Solutions business allows Safran to bolster Sagem’s offering and North-American presence in avionics and flight controls, bringing recognized expertise in panels and displays, including illuminated switches and cockpit controls.

The business holds strong market positions in commercial (regional, short-to medium-haul, long-haul), business and military aviation. The business generated revenues of more than USD 100 million and EBITDA in excess of USD 14 million in 2013. Aerospace Power Distribution Management Solutions account for around 60% of the activity, and Integrated Cockpit Solutions around 40%. The aftermarket (spares) business should contribute approximately 25% of overall revenue. The business employs approximately 350 people at manufacturing facilities in Costa Mesa, California and Sarasota, Florida.

“Further to Safran’s decisive step into onboard power generation with the breakthrough acquisition of Goodrich Electrical Power Systems in 2013, Eaton Aerospace Group’s electrical distribution activities are a key addition bringing us comprehensive expertise over the overall electrical energy chain. Labinal Power Systems, a new Safran entity formed at the beginning of the year, affirms its position as an essential player and a world leader in electrical power systems. In addition, the acquisition of the Cockpit Integration Solutions activities will reinforce Sagem’s commercial presence in the US.” declared Jean-Paul Herteman, Chairman and Chief Executive Officer.

Terms of the transaction
The cash consideration for the transaction amounts to USD 270 million (approximately EUR 200 million) of which an enterprise value of USD 224 million (approximately EUR 166 million) and future tax savings of USD 46 million (approximately EUR 34 million) arising from the amortization for tax purposes of goodwill and other intangible assets acquired.

The transaction, which is expected to close in the first half of 2014, is subject to Eaton Board approval, regulatory approvals and satisfaction of other customary closing conditions.

The Aerospace Power Distribution Management Solutions activities will be consolidated within the Aircraft Equipment business. The Integrated Cockpit Solutions activities will be consolidated within the Defence business.

Upcoming events
• FY 2013 results : February 20, 2014
• Q1 2014 revenue : April 23, 2014
• AGM : May 27, 2014

Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 68,000 employees and generated sales of 10.5 billion euros in the first nine months of 2013. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditure equivalent to 12% of revenue. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.

Investor relations
Peter Campbell
T: +33(0)1 40 60 35 96 - E: peter.campbell[.]safran.fr.

Frédéric Lucand
T: +33(0)1 40 60 82 19 - E: frederic.lucand[.]safran.fr.

Note to the media: A related release has been issued by Eaton.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Safran Group

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


Safran to Acquire the Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions Business of Eaton

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Safran Group | Eaton
Publisher Contact: Catherine Malek - Safran.fr 
+33(0)1 40 60 80 28 catherine.malek[.]safran.fr
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Safran Group securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Safran Group / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

Saltigo At CPhI 2017 as A Flexible Service-provider and One-stop Supplier for the Life Science Industries
abas ERP to Demo New Software Features at the ERP Vendor Congress
DSM Introduces Newest High-temperature PPA, ForTii® Ace, to the Outdoor Power Equipment Market
Safran Signs First Global Framework Agreement on Corporate Social Responsibility with IndustriALL Global Union
LANXESS Introduces New Halogen-free, Flame-retardant Polyesters and Polyamides
LANXESS Adds New Closed Circuit Reverse Osmosis (CCRO) Module to its Innovative LewaPlus Design Software
Infineon Partners with Smart Wires to Shape Up Existing Grids for Renewables
SCHOTT Launches New High-powered Laser Glass with Improved Thermomechanical Strength and Optical Performance
ITT Veam to Showcase Innovative Rail Interconnect Solutions at APTA EXPO 2017
BASF Receives EPA Approval for Fourth Application of Lexicon Intrinsic Brand Fungicide
Atlas Copco Completes Divestment of Road Construction Equipment Business
Rockwell Automation Takes Manufacturing Decision-Making from Hours to Milliseconds with Industrial IoT Technologies
Tripp Lite 3-Phase Rack ATS PDUs Receive Gold Innovation Award from Cabling Industry Group
ITT Enidine to Display Vibration Isolation and Energy Absorption Solutions At Helitech 2017
Rockwell Automation to Showcase Smart Automation Technology at WEFTEC 2017

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  NAKIVO, Inc.





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)