French aerospace company Safran has recently made a significant move by purchasing Collins Aerospace's flight control business for $1.8 billion. With this strategic acquisition, Safran aims to bolster its own flight control enterprise, providing a comprehensive offering to its clients and enhancing its position in the market, particularly in the realm of next-generation platforms that are moving towards increased electrification.
Safran's Chief Executive, Olivier Andries, expressed enthusiasm for the transaction, highlighting the potential to capitalize on the strengths of both companies and seize opportunities in the evolving aerospace industry. The Collins business unit, which generated $1.5 billion in sales and approximately $130 million in earnings last year, will further contribute to Safran's growth and competitiveness.
The deal is anticipated to be finalized in late 2024, following the necessary regulatory approvals and consultations with employees from both Safran and Collins Aerospace.
