Safran completes the purchase of the Rolls-Royce share of the joint RTM322 helicopter engine programme
Paris - Safran (NYSE Euronext Paris: SAF) announced that it finalized the acquisition from Rolls-Royce of Rolls-Royce’s 50% share in their joint RTM322 helicopter engine programme. The cash consideration for the transaction amounts to Euro 293 million.
Henceforth, Turbomeca (Safran’s world leading helicopter engine business) will assume global responsibility for the design, production, product support and services (spares and MRO services - maintenance, repair, overhaul) for the RTM322 engine, which powers the Apache, EH101 and NH90 helicopters. Rolls-Royce will provide full support during a transition phase enabling progressive transfer of all their activities to Turbomeca under this programme.
The RTM322 is a priority programme for Turbomeca and the company is committed to the continued technical and commercial development of this programme to improve its global performance, as well as to investments to serve in the long term the strategic market segment of the most powerful helicopter turbines (3,000 shp and above).
The objectives and financial details of the transaction were described in the April 23, 2013 announcement of its signature.
Q3 2013 revenue : October 24, 2013
FY 2013 results : February 20, 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 62,500 employees and generated sales of 13.6 billion euros in 2012. 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 expenditures of 1.6 billion Euros in 2012. Safran is listed on NYSE Euronext Paris and is part of the CAC40 index.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter
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