Safran Completes Acquisition of 81% of GE Homeland Protection
Safran and GE (NYSE: GE) announced today that they have completed the
transaction originally announced on
of GE’s Homeland Protection business (GE Homeland Protection). GE will retain
a 19% stake in the company, as well as a seat on the Board of Directors.
Homeland Protection is a leader in explosive and narcotics detection for
aviation safety, checked baggage screening, military & critical
infrastructure protection and new growth platforms in Chem/Bio, X-ray and
Radiation/Nuclear detection. Safran group’s subsidiary Sagem Securite will
operate the new business.
About Safran
Safran is a leading international high-technology group with three core
businesses: Aerospace (propulsion and equipment), Defense and Security.
Operating worldwide, the Safran group has 54,500 employees and generated
sales exceeding
Safran holds world or European leadership positions in its core markets. The
Group invests heavily in Research & Development to meet the requirements of
changing markets, including expenditures of
is listed on NYSE Euronext Paris and its share is part of the SBF 120 and
Euronext 100 indexes. For more information, http://www.safran-group.com.
About Sagem Securite
Sagem Securite (SAFRAN Group) is a high-technology company. One of the
world’s leading suppliers of identity solutions, Sagem Securite focuses on
applications including personal rights and flow management, in particular
based on biometrics, a sector in which it is the world leader, secure
terminals and smart cards. Its integrated systems and equipment are deployed
worldwide and contribute to the safety and security of transportation, data,
people and states. For more information, http://www.sagem-securite.com .
About GE
GE (NYSE: GE) is a diversified infrastructure, finance and media company
taking on the world’s toughest challenges. From aircraft engines and power
generation to financial services, medical imaging, and television
programming, GE operates in more than 100 countries and employs about 300,000
people worldwide. For more information, visit the company’s Web site at
http://www.ge.com.
SOURCE SAFRAN