MTU Aero Engines and Sagem (Safran group) intend to form joint venture for safety-critical software and hardware development
"Our intention is to provide a sustainable perspective for our joint hardware and software skills and activities, while military budgets are decreasing. Together with Sagem, through its Safran Electronics Division, the JV can access a wider range of market segments and additional third party business", explained MTU CEO Egon Behle. "The German-French joint venture facilitates an efficient and long-term safeguarding of contractual commitments and offers access to a variety of future development projects in the aerospace and defense industry. Last but not least, the company will offer optimal job opportunities for its employees," said Behle.
According to Philippe Petitcolin, CEO of Sagem, "this Franco-German JV will constitute an important step towards European consolidation of the sector and a high-quality vehicle to better answer to our customers in the context of pan-European programs and projects."
Sagem, a high-tech company in the Safran group, holds world or European leadership positions in optronics, avionics, electronics and safety-critical software for both civil and military markets. Sagem is the No. 1 company in Europe and No. 3 worldwide for inertial navigation systems (INS) used in air, land and naval applications. It is also the world leader in helicopter flight controls and the European leader in optronics and tactical UAV systems. Operating across the globe through the Safran group, Sagem and its subsidiaries employ 7,000 people in Europe, Southeast Asia and North America. Sagem is the commercial name of the company Sagem Défense Sécurité.
MTU Aero Engines AG
MTU Aero Engines, Germany's leading engine manufacturer and the country's only independent engine builder, is an established player in the industry. A technology leader, MTU excels in low-pressure turbines and high-pressure compressors, and manufacturing and repair techniques. The company has a workforce of more than 8,200 employees worldwide and, in fiscal 2010, posted consolidated sales of some 2.7 billion euros. MTU Maintenance is the world's largest independent provider of engine maintenance, repair and overhaul (MRO) services. In the military arena, MTU is Germany's industrial lead company for practically all engines flown by the country's armed forces.