Green Light for Boeing / Safran Joint Venture

Boeing and Safran have received regulatory approvals for a joint venture that will design, build and service auxiliary power units (APUs) for aircraft - onboard engines that are primarily used to start the main engines and power aircraft systems while on the ground and, if necessary, in flight.

Etienne Boisseau has been appointed as Chief Executive Officer of the joint venture.

Both companies have a 50% stake in the joint venture. The initial team will perform design work in San Diego, California.

"Safran is proud to launch this joint venture with Boeing in order to offer state-of-the-art APUs and enhance customer value. Together, we are committed to delivering innovative, highly technological and cost-competitive solutions to global customers. We are confident this joint team will provide first-class products and services within the best integrated industrial organization."

The joint venture combines Boeing's customer and airplane knowledge and Safran's experience designing and producing complex propulsion systems.

Stan Deal, President and CEO of Boeing Global Services, said, "We are open for business and excited to offer even more value to our customers throughout the lifecycle of their investment. This joint venture strengthens Boeing's vertical capabilities as we continue to expand our services portfolio. By making strategic investments that accelerate our growth plans, we also are providing our customers with expanded, innovative services solutions."

In addition to Etienne Boisseau, others nominated to the joint venture's leadership team include:

Linda Hapgood, Chief Operating Officer
Erin Morrissey, Chief Financial Officer
Joan Inlow, Chief Technology Officer

The name of the joint venture as well as the location of the future headquarters and production and service facilities have not yet been announced.

Safran currently supplies a wide range of components to Boeing commercial and defense programs, including as a partner to produce CFM's LEAP-1B engine for the 737 MAX (through CFM International, a 50/50 JV between Safran Aircraft Engines and GE).

Boeing and Safran also are partners in MATIS, a joint venture in Morocco producing wiring products for several airframe and engine companies.

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