Jane Edwards
Boeing and France-based Safran have formed a new joint venture that will develop and service auxiliary power units or onboard engines used to power aircraft while on the ground.
Boeing said Monday both firms will own a 50 percent stake in the U.S.-based joint venture and that it expects the transaction to close in the second half of this year, subject to antitrust clearance, regulatory approvals and other customary closing conditions.
Stan Deal, president and CEO of Boeing’s global services business, said the strategic partnership will leverage Safran’s experience in propulsion assembly development and Boeing’s aircraft and client knowledge to deliver innovative systems to customers.
Boeing works with Safran through a Morocco-based joint venture – MATIS – that manufactures wiring products for engine and airframe companies.
Safran also delivers components to Boeing’s defense and commercial programs through CFM International – a joint venture of Safran’s aircraft engines business with General Electric.
