PR Newswire/Les Echos/
Press release
Statement from Safran
Paris, November 18, 2010
Since last June, Safran has deepened its understanding which fully confirmed
its analysis of the industrial merits of a combination with Zodiac Aerospace,
as well as the strategic benefits induced by technological complementarities.
The Group had proposed to the Chairman of the Supervisory Board and the Chief
Executive Officer of Zodiac jointly to examine the merits of a friendly
combination.
Following several contacts and under current circumstances, the conditions for
a friendly combination are not met. In harmony with its corporate culture,
Safran will not make an offer for Zodiac.
Safran will pursue its external growth strategy in all its businesses, as
already demonstrated with the previously announced transactions in 2010
involving SNPE Matériaux Energétiques in the field of solid rocket propulsion,
as well as L-1 Identity Solutions in biometric solutions, in the wake of
eminently successful integration of major businesses in the past such as
Turbomeca and Labinal in the Propulsion and Aircraft Equipment activities
respectively.
* * * *
Safran is a leading international high-technology group with three core
businesses: Aerospace (propulsion and equipment), Defence and Security.
Operating worldwide, the Safran group has 55,000 employees and generated sales
exceeding 10.4 billion euros in 2009. 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 1.1 billion euros in 2009. Safran is listed
on NYSE Euronext Paris and its share is part of the SBF 120 and Euronext 100
indexes.
For more information, www.safran-group.com
Investor Relations contact : Press contact :
Pascal BANTEGNIE Catherine MALEK
VP, Investor Relations Press Relations Manager
Tel +33 (0)1 40 60 80 45 Tel +33 (0)1 40 60 80 28
pascal.bantegnie@safran.fr catherine.malek@safran.fr
Safran group
2, bd du Général Martial Valin
75724 Paris Cedex 15 - France
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