Safran completes acquisition of 81% of GE Homeland Protection
Written by thomas · Filed Under Aeronautics NewsSeptember 10, 2009
Paris and Fairfield, CT, September 8, 2009 – Safran and GE (NYSE: GE)
announced today that they have completed the transaction originally announced on
April 24, 2009, for Safran to acquire 81% of GE’s Homeland Protection business
(GE Homeland Protection). GE will retain a 19% stake in the company, as well as a
seat on the Board of Directors.
Homeland Protection is a leader in explosive and narcotics detection for aviation
safety, checked baggage screening, military & critical infrastructure protection and
new growth platforms in Chem/Bio, X-ray and Radiation/Nuclear detection. Safran
group’s subsidiary Sagem Sécurité will operate the new business.
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