PARIS - Safran Aircraft Engines and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) have signed a Memorandum of Understanding concerning the establishment of a joint company dedicated to the repair of aircraft engine compressor blades. The new company’s business will specifically concern CFM International CFM56 engines, the General Electric GE90, and the Engine Alliance GP7200. AFI KLM E&M is a subsidiary of Air France KLM.
The two partners will invest more than EUR20 million in the new company, which will be owned 51 percent by Safran and 49 percent by Air France KLM. It is scheduled to begin operations in late 2017.
The new company will be based at the Sars et Rosiere business park in La Porte du Hainaut in northern France. Its plant will cover 15,000 square meters. After reaching full production capacity in 2020, the company should have a total of 200-250 employees.
"The creation of this joint venture marks a new phase in Safran's long-standing relationship with Air France," said Safran CEO Philippe Petitcolin. "Our shared ambition has driven the creation of a new high-tech company in France for a major international growth market. As two major players in French industry, we are very proud of our contribution to onshoring this strategic business, which calls on highly-qualified employees. It's also an excellent opportunity for Safran to bolster our position as a major player in the aircraft maintenance, repair and overhaul (MRO) sector."
Air France KLM CEO Alexandre de Juniac said, "I am delighted to see Safran and Air France KLM, two industry leaders, pool their expertise to develop new skills and create over 200 jobs in France. With this project, Air France KLM continues to invest in the development of our Engineering & Maintenance business, one of the world leaders in aircraft MRO. Through this new state-of-the-art unit, AFI KLM E&M will strengthen its technological expertise and increase the competitiveness of our services in a very demanding global market."
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