Boeing and Safran received regulatory permits to launch a joint venture to design, build and maintain aircraft auxiliary power units (APU) – onboard engines, which are primarily used to start the main engines and power systems of an aircraft on the ground, and when necessary in flight. Etienne Boisseau was appointed as CEO of the company.
The agreement lays the foundation for a partnership between the two largest aerospace companies in the world, aimed at joint activities to create an auxiliary power unit and expanded service opportunities that benefit both customers and the industry as a whole. Each company owns a 50% stake in a joint venture. The initial team will design at a site in San Diego, California.
“Safran is proud to launch a joint venture with Boeing with the goal of creating a modern APU and increasing customer value. Together, we intend to provide innovative, high-tech and cost-competitive solutions to customers worldwide”, said the CEO of Safran, Philippe Petitcolin.
The joint venture brings together Boeing’s knowledge of customers and aircraft with Safran experience in designing and manufacturing complex power systems.
“We are open to business and are pleased to offer even more value to customers throughout the entire life cycle of the products in which they invest. The joint venture boosts Boeing’s vertical capabilities by expanding our service portfolio. By making strategic investments that accelerate our growth plans, we also provide our customers with advanced, innovative service solutions”, said the president and chief executive officer of Boeing Global Services, Stan Deal.