Safran Sells Its 50% Stake in Aircraft Interiors Joint Venture to Embraer
Safran announced on Monday that it has reached a definitive agreement with Embraer to sell its 50% share in EZAir, their equally-owned joint venture that manufactures interiors for Embraer aircraft in Chihuahua, Mexico, to the Brazilian planemaker.
In a statement, the French aerospace supplier specified that the deal includes associated after-sales service activities, as well as responsibility for engineering and production operations located in Brazil.
Under the terms of the agreement, the Chihuahua facility, which employs around 1,100 people, will now be fully owned by Embraer.
Regarding Brazil, Safran Cabin Brazil operations dedicated to Embraer platforms will be integrated into Embraer, while Safran Cabin Brazil's engineering service activities not related to Embraer will remain within Safran's scope.
The transaction is subject to obtaining the necessary regulatory approvals and the usual conditions for this type of deal.
Safran is a high technology international group, a leading equipment provider in the Aerospace and Defense markets. The group specializes in the design, manufacturing, and marketing of equipment and systems of high technology mechanical and electronic equipment. Net sales break down by product family as follows:
- aeronautic and space propulsion systems (50.4%): helicopter motors (No. 1 worldwide), civil and military airplanes motors, systems for space lancers and missiles, turboreactors for drone targets, etc.;
- aircraft equipment, defense systems and aerosystems (38.5%): airplane engine pods, landing gear, braking systems, electric wiring systems, etc. Safran also offers on board aircraft systems and equipment (primarily evacuation slides, emergency arresting systems, protective parachutes and oxygen systems, electrical power management systems, control systems, water and waste management systems and connectivity systems) and defense and security systems (helicopter flight controls, fingerprint-based biometric identification systems (No. 1 worldwide), inertial systems, optronic systems, tactical drone systems, etc.);
- aircraft interiors (11%): cabin interiors and seats;
- other (0.1%).
Net sales are distributed geographically as follows: France (19%), Europe (23%), Americas (33%), Asia and Oceania (16%), Africa and the Middle East (9%).
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