Boeing-Safran joint venture opens for business and appoints CEO
Boeing and Safran have received regulatory approvals for a joint venture so they can begin designing, building and servicing aircraft Auxiliary Power Units (APUs). The companies also named Etienne Boisseau as Chief Executive Officer of the joint venture.
The agreement establishes a partnership between the two companies to work together on APU products and expanded service capabilities. APUs are onboard engines that are primarily used to start the main engines and power aircraft systems while on the ground and, if necessary, in flight.
The joint venture combines Boeing's customer and aeroplane knowledge and Safran's experience designing and producing complex propulsion systems. Both companies have a 50% stake in the joint venture. The initial team will perform design work in San Diego, California.
In addition to Etienne Boisseau, others appointed to the joint venture's leadership team include:
- Linda Hapgood, Chief Operating Officer
- Erin Morrissey, Chief Financial Officer
- Joan Inlow, Chief Technology Officer
Philippe Petitcolin, CEO of Safran, commented: "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 organisation.”
Open for business
Stan Deal, President and CEO of Boeing Global Services, added: "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.”
The name of the joint venture, as well as the location of the future headquarters and production and service facilities, will be announced at a later date.