PR Newswire/Les Echos/
Safran acquires GE's residual stake in Morpho Detection Inc.
Paris, December 4, 2012 - Safran (NYSE Euronext Paris: SAF) announces the
acquisition of General Electric's residual 19% stake in Morpho Detection Inc.
The operation results from the exercise of an option provided for in September
2009 when Safran acquired 81% of MDI from General Electric.
The residual 19% stake is valued at Euro 90 million and its purchase is
financed by Safran's available cash in the current fiscal year.
Morpho USA now owns 100% of Morpho Detection Inc. Morpho is the subsidiary of
Safran dedicated to Security.
* * * * *
Safran is a leading international high-technology group with three core
businesses: Aerospace (propulsion and equipment), Defence and Security.
Operating worldwide, the Safran group has close to 60,000 employees and
generated sales of 11.7 billion euros in 2011. Working alone or in partnership,
Safran holds world or European leadership positions in its core markets. The
Group invests heavily in Research & Development to meet the requirements of
changing markets, including expenditures of 1.3 billion euros in 2011. Safran
is listed on NYSE Euronext Paris and is part of the CAC40 index.
For more information, www.safran-group.com / Follow @SAFRAN on Twitter
Catherine Malek +33 (0)1 40 60 80 28 email@example.com
Pascal Bantegnie +33 (0)1 40 60 80 45 firstname.lastname@example.org
Peter Campbell +33 (0)1 40 60 35 96 email@example.com
Antoine-Pierre de Grammont +33 (0)1 40 60 80 47
2, bd du Général Martial Valin
75724 Paris Cedex 15 - France
The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.
-0- Dec/04/2012 08:17 GMT
Press spacebar to pause and continue. Press esc to stop.