French aerospace conglomerate Safran is selling its US electric motor subsidiary Globe Motors to Allied Motion.
The Paris-based group says it has reached a definitive agreement with Allied Motion to sell the Dayton, Ohio-based business for $90 million. Subject to regulatory approval, the deal is to be completed by year-end.
Globe Motors designs and manufactures precision electrical motors and motorised devices, such as actuators, for various industries, including the space and automotive sectors. It generated revenues of $106 million in 2012, and is part of Safran's aircraft equipment division.