Safran acquires Goodrich electric power unit for €310m

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Safran is to acquire US firm Goodrich's electrical power systems division GEPS for €310 million ($400 million), to complement its own activities in the sector.

GEPS has systems installed on a variety of civil types including the Airbus A320, A380 and Embraer regional jets.

The acquisition will enable Safran to continue developing technology focused on aircraft systems which are increasingly electrically-based.

Safran says GEPS, which has facilities at Pitstone Green, UK, and Twinsburg, Ohio, will generate $200 million in revenues this year. It employs some 560 personnel, primarily in the UK.

"The trend towards more electrical aircraft is a long-term irreversible industry evolution which opens up new opportunities for our industry," says Safran chief Jean-Paul Herteman.

"It will provide research and development savings versus internal development, and key customer access based on recognised expertise and excellence."

This will be achieved by forming close links between GEPS and related Safran divisions, such as Labinal, Messier-Bugatti-Dowty and Aircelle.

Safran expects the transaction to close late this year or in early 2013. It adds that GEPS has a 60% share of Thales joint venture Aerolec - a supplier of power generation systems to Airbus - which is included in the deal.