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Safran manufactures, among other things, the engines of the Airbus 319, 320 and 321. Last year, its sales totaled 24.6 billion euros.
The installation in Greece of a unit for the repair, maintenance and reconstruction of aircraft and helicopter engines is evaluated by the French multinational Safran Group. According to government sources, the talks are at an advanced stage, but still require a lot of effort to succeed. If that happens, the country could make a significant investment in a high value-added and labor-intensive industry, which could generate significant demand for employment, the sources said.
However, the French group, whose flirtation with Greece has been rekindled by recent visits by Greek and French prime ministers to Paris and Athens, respectively, as it participated in accompanying trade missions, is also evaluating other countries in the East. Mediterranean for this investment. The reason is the need to support its customers, mostly airlines that use its engines, but also other electronic and mechanical components that it produces.
In addition, Safran expects similar services for the defense sector, where it is also active. It should be noted that it also cooperates with the French Naval Group (formerly DCNS), manufacturer of the developing Frigates Européenne Multi-Mission (FREMM) and Belharra frigates, the acquisition of which is being discussed by Athens.
Safran manufactures, among other things, the Airbus 319, 320 and 321 engines, versions of different capacities and total length of a basic model. Airbus mainly uses two types of engines: Safran and Pratt & Whitney. The global market is divided between these two manufacturers, and these engines must be maintained, repaired, and sometimes restored. The Repair, Maintenance and Reconstruction Unit, or Maintenance, Repair and Overhaul (MRO) as this activity is called internationally, is expected to serve a very large volume of aircraft.
It should be noted that the global market value of MRO is estimated to exceed $ 135.1 billion, or three-quarters of the aircraft market, estimated at $ 180.3 billion. Despite the pandemic crisis in air transport that will lead to a significant correction in the size of the global aircraft fleet, MRO services are expected to be much less pressured than sales.
According to the information, the French multinational is examining several Greek regions for the possible development of its investment, and northern Greece is more likely to be mentioned due to its greater proximity to Eastern Europe in general, but also due to the existence of sufficient road, air and port infrastructure. .
Safran designs, develops and manufactures a wide range of engines through its subsidiaries, as well as partnerships with General Electric, which has provided two of the best-selling engines internationally. It also manufactures aircraft and helicopter cabins and recently entered the component manufacturing market, as well as integrated cabinets for new generation automobiles.
It has 95,000 employees.
It has a global presence, with more than 95,000 employees and sales of € 24.6 billion during the financial year of last year. It conducts research and development programs to meet changing market requirements, with total spending in the sector of approximately € 1.7 billion in 2019. The Greek government would like to see some of this activity take place in Greece, according to the report. The company was created through the merger of the aircraft and missile manufacturer and the aerospace component manufacturers group SNECMA and SAGEM in 2005. In 2018, it also acquired control of the Zodiac Aerospace, significantly expanding the activities of the aircraft teams. Based in Paris, it is listed on Euronext and is part of the CAC 40 and Euro Stoxx 50 indices. 81.4% of its investment capital belongs to the general investment public, 11.2% to the French public and 6, 8 % in employees and 0.6% are the same shares.
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