Safran In Talks To Buy Aeronautical Oxygen Equipment Activities From Air Liquide
PARIS—Safran says it has entered into exclusive negotiations with Air Liquide to buy the French company’s aeronautical oxygen and nitrogen activities, with the exception of cryogenic activities related to naval applications.
Air Liquide’s aeronautical technologies activities, based near Grenoble in southeastern France, are focused primarily on oxygen and nitrogen equipment and systems—employing 220 people and posting a turnover of more than €40 million ($42.9 million) in 2022.
Safran, through its Safran Aerosystems division, already has an Oxygen Systems business that designs equipment to ensure the safety of crews and passengers onboard civil and military aircraft, as well as helicopters. That business currently has 500 employees spread across the U. S. and France.
The Air Liquide deal would complement Safran Aerosystems’ product range, Safran says. In a statement, the company adds: “In particular, On-Board Oxygen Generation Systems will enable Safran to become a leading player through systems integration.”
Speaking about the potential partial acquisition of Air Liquide, Safran Aerosystems CEO Sébastien Weber says, “Our activities and know-how are very complementary. Together, we would bring ever more complete and efficient solutions to the market.”
The deal will be subject to consultation with employee representatives at both companies—as well as regulatory approval—and is expected to be completed at the start of 2024.