Article Posted on : - May 03, 2016

AMSTERDAM/ PARIS (BNS): European conglomerate Airbus Group and French company Safran have signed an agreement for the second and final phase of their 50/50 joint venture programme, Airbus Safran Launchers.

Under the first phase of the JV, Airbus Group and Safran created a joint programme company with their respective civil programme contracts and major participations related to civil launcher activities.

Both companies will contribute to the current joint programme with industrial assets dealing with both civil space launchers and military launchers, Airbus announced in a statement on May 2.

In this second and final phase, industrial assets and military launchers will be integrated in the joint-venture, the statement said, adding that the Airbus Safran Launchers will be a full-fledged operational company.

The new company will employ around 8,000 staff and provide competitive solutions based on a family of versatile, high-performance, cost-competitive launchers that meet the needs of both government and commercial customers.

This deal will ensure the success of the European space launcher business in the face of growing international competition, the statement added.