{"id":3749,"date":"2019-02-14T07:28:06","date_gmt":"2019-02-14T13:28:06","guid":{"rendered":"http:\/\/planesintheair.com\/?p=3749"},"modified":"2019-02-14T08:48:01","modified_gmt":"2019-02-14T14:48:01","slug":"boeing-and-safran-announce-initium-aerospace-apu-joint-venture","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=3749","title":{"rendered":"Boeing and Safran Announce Initium Aerospace APU Joint Venture"},"content":{"rendered":"\n

CHICAGO and PARIS, Feb. 13, 2019 \/PRNewswire<\/a>\/\n — Boeing [NYSE: BA] and Safran [EPA: SAF] today announce the name of \ntheir 50-50 joint venture to design, build and service Auxiliary Power \nUnits (APUs): Initium Aerospace.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

From its Latin roots, initium means ‘the beginning’ or ‘to start.’ \nThis is what an APU is and does when it provides the power to start the \nmain aircraft engines and systems on the ground and, if necessary, in \nflight. Initium Aerospace starts with Boeing’s customer and airplane \nknowledge and Safran’s experience designing and producing complex \npropulsion systems.<\/p>\n\n\n\n

“This is an exciting milestone as we bring together the best of both \ncompanies to design and build an advanced APU that will create more \nlifecycle value for our customers,” said Stan Deal,\n president and CEO, Boeing Global Services. “This is further proof that \nBoeing is making strategic investments that strengthen our vertical \ncapabilities and continue to expand our services portfolio.”<\/p>\n\n\n\n

The creation of Initium Aerospace follows the regulatory and \nantitrust approvals the joint venture received last November, after an \nagreement was reached in June.<\/p>\n\n\n\n

“I would like to congratulate everybody at Boeing and Safran who \ncontributed to the creation of this new joint venture,” said Philippe \nPetitcolin, CEO of Safran. “Initium Aerospace is swiftly capitalizing on\n the vast expertise of both partners to provide state-of-the-art APUs \nand innovative solutions to customers. Safran is proud and totally \ninvested in supporting Boeing’s growth and operators expectations. We \nlook forward to presenting the first demonstrator engine to the market.”<\/p>\n\n\n\n

The initial team consists of employees from the two parent companies and is led by Etienne Boisseau, CEO of Initium Aerospace. Initial work is being done in San Diego, California,\n where they are focused on the next-generation APU design as well as \ncollaborating with teams across Boeing and Safran on engineering and \nproduction.<\/p>\n\n\n\n

Safran<\/em> is an international high-technology group, operating\n in the aircraft propulsion and equipment, space and defense markets. \nSafran has a global presence, with more than 58,000 employees and sales \nof 16.5 billion euros in 2017. Working \nalone or in partnership, Safran holds world or European leadership \npositions in its core markets. Safran undertakes Research & \nDevelopment programs to meet fast-changing market requirements, with \ntotal R&D expenditures of around 1.4 billion euros in 2017. Safran is listed on the Euronext Paris stock exchange, and is part of the CAC 40 and Euro Stoxx 50 indices. <\/em><\/p>\n\n\n\n

In February 2018, Safran took \ncontrol of Zodiac Aerospace, significantly expanding its aircraft \nequipment activities. Zodiac Aerospace has 32,500 employees and \ngenerated sales of 5.1 billion euros for its fiscal year ended August 31, 2017.<\/em><\/p>\n\n\n\n

Boeing<\/a><\/em> is\n the world’s largest aerospace company and leading manufacturer of \ncommercial airplanes and defense, space and security systems. Boeing is \nalso the world leader in combined commercial airlines and government \nservices with customers in more than 150 countries. The company’s \nproducts and tailored services include commercial and military aircraft,\n satellites, weapons, electronic and defense systems, launch systems, \nadvanced information and communication systems, and performance-based \nlogistics and training. Boeing employs approximately 150,000 people \nacross the United States and in more than 65 countries.<\/em><\/p>\n\n\n\n

Forward-Looking Information Is Subject to Risk and Uncertainty<\/strong><\/p>\n\n\n\n

Certain statements in this release may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timetable for completing the transaction, future business prospects, and benefits and synergies of the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to consummate the transaction and receive antitrust clearance, and other important factors disclosed previously and from time to time in reports filed by Boeing and Safran with their respective agencies.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Story and images from http:\/\/www.boeing.com\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Boeing [NYSE: BA] and Safran [EPA: SAF] today announce the name of their 50-50 joint venture to design, build and service Auxiliary Power Units (APUs): Initium Aerospace. From its Latin roots, initium means ‘the beginning’ or ‘to start.’ This is what an APU is and does when it provides the power to start the main aircraft engines and systems<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89,799,1836,2203,1397,868],"tags":[167,464,502,1122,3385,41,1235,1563,1268,3387,335,3102,1837,3388,3382,199,2000,3390,412,3386,3384,532,515,3383,712,2879,937,1177,3389,1522,2001,1964],"class_list":["post-3749","post","type-post","status-publish","format-standard","hentry","category-aviation-news","category-boeing-news","category-defense-news","category-finance-news","category-stock-news","category-transportation-news","tag-aerospace","tag-aircraft","tag-airplane","tag-apu","tag-auxiliary","tag-boeing","tag-california","tag-commercial","tag-defense","tag-diego","tag-engine","tag-engineering","tag-equipment","tag-high","tag-initium","tag-international","tag-joint","tag-market-aerospace","tag-news","tag-petitcolin","tag-philippe","tag-power","tag-production","tag-propulsion","tag-safran","tag-san","tag-space","tag-system","tag-tech","tag-unit","tag-venture","tag-zodiac"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3749"}],"version-history":[{"count":6,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3749\/revisions"}],"predecessor-version":[{"id":3763,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/3749\/revisions\/3763"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}