SAF Safran SA

   (FROM THE WALL STREET JOURNAL 3/15/16) 
   By Robert Wall 

LONDON -- French aerospace supplier Safran SA on Monday said it is reviewing the future of its identity and security businesses while proceeding with efforts to unload an airport explosives detection operation.

The review of its businesses that make secure identity cards and deal with biometrics would take a maximum of six months, Chief Executive Philippe Petitcolin told reporters ahead of an investor briefing. Options range from retaining the activities to a sale.

The move comes as Safran focuses increasingly on its aerospace and defense activities, where it is a major supplier of everything from engines for Boeing Co. and Airbus Group SE planes to rockets. Safran had about 1.85 billion euros ($2 billion) in sales last year in its security businesses, Mr. Petitcolin said.

Safran is already in the process of trying to sell an explosive detection business it acquired in 2009 from General Electric Co. "We have never been able to find any kind of synergies with the rest of the security businesses," Mr. Petitcolin said.

The unit had sales of around $350 million. Safran is talking with several potential buyers, the CEO said.

(END) Dow Jones Newswires

March 15, 2016 02:47 ET (06:47 GMT)

Safran (EU:SAF)
過去 株価チャート
から 6 2024 まで 7 2024

Safran (EU:SAF)
過去 株価チャート
から 7 2023 まで 7 2024