the republic logo

Airbus and Safran agree to merge space launcher activities to keep up with competition

Share/Save/Bookmark

PARIS — Airbus Group and French engineering company Safran have agreed to merge their rocket launcher businesses into a new joint venture aimed at helping the European space sector stay globally competitive.

The two companies said in a statement Monday that they have signed a memorandum of understanding for the plan, for which financial figures were not disclosed, and that they hope the venture can start operating by the end of this year. Shares in the companies rose after the news.

The statement says the new venture would focus on developing the next generations of Ariane rockets and safeguarding "Europe's autonomous and reliable access to space."

French President Francois Hollande, whose government helps finance Ariane rockets, gave the proposed venture his blessing at a meeting with representatives of both companies Monday morning.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Subjects:

Places:

 

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.