CFM56 orders bolster Safran results
Sales French aerospace group Safran saw a 6.4% increase in provisional sales for 2006, to a total of €11.3 billion ($14.6 billion). Record CFM56 sales helped its aerospace propulsion division, but the group is warning that accounting irregularities in its Defence Security division could have a €40 million impact on sales. Meanwhile, former French finance minister Francis Mer has taken over as supervisory board chairman, replacing Mario Colaiacovo. The move follows in-fighting between executives of the former Sagem and Snecma divisions, culminating in Colaiacovo's departure and chief executive Jean-Paul Béchat's plan to step down in September.
TAT takes full control of Sogerma
Takeover French maintenance group TAT has taken full control of Sogerma Services, in the final phase of a deal that began with a joint venture with EADS Sogerma last year. Parent company EADS considered closing the site, which employs around 1,000 people at Mérignac, near Bordeaux. The deal includes US-based maintenance facility Barfield and a 50% stake in maintenance joint venture Sogerma Tunisie with Tunisian carrier Nouvelair Tunisie. TAT says the enlarged maintenance, repair and overhaul company has a turnover of €450 million ($581 million).
German state confirms EADS stake
Ownership The northern German state of Lower Saxony is to buy part of Daimler Chrysler's stake in EADS, helping to maintain the Franco-German balance of ownership at EADS as the car manufacturer reduces its stake from 22.5% to 15%. The state is planning to invest around €77 million in 5% of the available shareholding as part of a consortium of German entities.
ITP sells aircraft systems division
Divestment Spanish manufacturer ITP is divesting its ITD division, which specialises in engineering services for aircraft systems, as part of its strategy to focus on turbines for aeronautical and industrial applications. ADE Capital Sodical, whose shareholders include Spanish region Castilla y León's regional council, is taking a 40% stake in the business, while engineering group Mazél is buying the remainder.
Triumph adds to overhaul capacity
Purchase Triumph Group is adding to its aftermarket services business offering with the acquisition of Texas-based Grand Prairie Accessory Services. Grand Prairie provides maintenance, repair and overhaul (MRO) services for various engine types including CFM International, General Electric and International Aero Engines.
Reebaire buy gives AAR more reach
Purchase AAR is doubling its reach in the regional aircraft maintenance market with the acquisition of regional aircraft maintenance repair and overhaul (MRO) facility Reebaire Aircraft. The newly acquired business will be known as AAR Aircraft Services - Hot Springs. AAR says the deal fits in with its strategy of expanding its MRO business and support of regional aircraft operators. Its sales to regional airline customers have already increased 40% year-on-year.
Source: Flight International
