Latest news with #CollinsAerospace
Yahoo
2 days ago
- Business
- Yahoo
Safran finalises acquisition of Collins Aerospace flight controls business
(Reuters) -French engine and aircraft equipment maker Safran said on Monday it had finalised the acquisition of flight control and actuation activities from Collins Aerospace. Safran, which also makes landing gear, brakes and cabin interiors, said the transaction is expected to generate around $50 million of annual run-rate cost synergies by 2028. Collins Aerospace business, which generated about $1.55 billion in revenue in 2024, will be consolidated into Safran electronics and defense from August 1, the company added. 'This acquisition offers a unique opportunity to solidify our position in mission-critical flight control and actuation functions and create a global leader in this domain," Safran CEO Olivier Andries said in a statement. The European Commission cleared the transaction in April, nearly two years after the deal was first announced.
Yahoo
2 days ago
- Business
- Yahoo
Safran finalises acquisition of Collins Aerospace flight controls business
(Reuters) -French engine and aircraft equipment maker Safran said on Monday it had finalised the acquisition of flight control and actuation activities from Collins Aerospace. Safran, which also makes landing gear, brakes and cabin interiors, said the transaction is expected to generate around $50 million of annual run-rate cost synergies by 2028. Collins Aerospace business, which generated about $1.55 billion in revenue in 2024, will be consolidated into Safran electronics and defense from August 1, the company added. 'This acquisition offers a unique opportunity to solidify our position in mission-critical flight control and actuation functions and create a global leader in this domain," Safran CEO Olivier Andries said in a statement. The European Commission cleared the transaction in April, nearly two years after the deal was first announced. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Safran finalises acquisition of Collins Aerospace flight controls business
(Reuters) -French engine and aircraft equipment maker Safran said on Monday it had finalised the acquisition of flight control and actuation activities from Collins Aerospace. Safran, which also makes landing gear, brakes and cabin interiors, said the transaction is expected to generate around $50 million of annual run-rate cost synergies by 2028. Collins Aerospace business, which generated about $1.55 billion in revenue in 2024, will be consolidated into Safran electronics and defense from August 1, the company added. 'This acquisition offers a unique opportunity to solidify our position in mission-critical flight control and actuation functions and create a global leader in this domain," Safran CEO Olivier Andries said in a statement. The European Commission cleared the transaction in April, nearly two years after the deal was first announced. Sign in to access your portfolio
Reuters
2 days ago
- Business
- Reuters
Safran finalises acquisition of Collins Aerospace flight controls business
July 21 (Reuters) - French engine and aircraft equipment maker Safran ( opens new tab said on Monday it had finalised the acquisition of flight control and actuation activities from Collins Aerospace. Safran, which also makes landing gear, brakes and cabin interiors, said the transaction is expected to generate around $50 million of annual run-rate cost synergies by 2028. Collins Aerospace business, which generated about $1.55 billion in revenue in 2024, will be consolidated into Safran electronics and defense from August 1, the company added. 'This acquisition offers a unique opportunity to solidify our position in mission-critical flight control and actuation functions and create a global leader in this domain," Safran CEO Olivier Andries said in a statement. The European Commission cleared the transaction in April, nearly two years after the deal was first announced.
Business Times
15-07-2025
- Business
- Business Times
RTX launches new Collins Aerospace facility with flexible manufacturing system in Singapore
[SINGAPORE] Defence conglomerate RTX launched its new Collins Aerospace facility at Seletar Aerospace Park in Singapore on Tuesday (Jul 15). This marks the beginning of construction at the aerospace park, part of RTX's US$250 million investment to expand its advanced manufacturing and maintenance, repair and overhaul (MRO) capabilities in Singapore. The event was officiated by Deputy Prime Minister (DPM) Gan Kim Yong, who joined Paolo Dal Cin, senior vice-president of RTX's operations and supply chain, and representatives from the Singapore Economic Development Board (EDB) to mark the start of construction on the future site. The current plant of Collins Aerospace in Bedok is the sole manufacturing site for complex gears used in a wide array of modern commercial aircraft platforms, where its major customers are key airframers such as Airbus, Boeing, Bombardier, Embraer and Gulfstream. New flexible manufacturing system (FMS) workflow As part of this venture, its new facility will adopt an entirely new workflow based on a FMS. This means that a new manufacturing engineering team of 60 persons in the new facility with deep manufacturing process expertise in FMS and Industry 4.0 technologies will be set up. It will be the first of such teams in Collins Aerospaces' global network. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The move will reportedly double its manufacturing volumes by 2033, and introduce high-value component assembly work to Singapore, said DPM Gan in his speech at the groundbreaking ceremony of the new manufacturing facility on Tuesday. In addition, the company will also upskill its existing workers at its Bedok plant, so that they will be prepared for the shift to the new facility. The launch of this new facility follows the recent agreement between RTX and EDB on Jun 18, which outlines a 10-year roadmap to strengthen Singapore's aerospace ecosystem. It focuses on digitalisation, efficiency, workforce development, and expanding high-value capabilities, with this new facility playing a key role in bringing that shared vision to life. Collins Aerospaces was one of the first aerospace companies to establish a presence in Singapore more than 50 years ago. Substantial gains in aerospace segment in May: EDB According to data from Singapore's EDB, the aerospace segment expanded by 43.6 per cent in May, as it was bolstered by higher production of aircraft parts and more MRO jobs from commercial airlines. This is up from 9.5 per cent year on year in April, and 30.9 per cent year on year in March. Transport engineering output on a whole rose 25.6 per cent year on year in May. As for the marine and offshore engineering segment, it increased by 5.3 per cent in May, on account of higher levels of activities in the shipyards. The land segment, however, declined 12 per cent. The transport engineering cluster cumulatively grew 18 per cent for the period January to May this year, compared to the same period a year ago. In 2024, Singapore's aerospace industry achieved an output valued at over S$18 billion, which represents a growth of more than 15 per cent year on year. 'Amidst the rise of technologies such as artificial intelligence and machine learning as well as automation and robotics, we want to keep Singapore competitive as a hub for advanced manufacturing,' DPM Gan said. 'We do not set out to compete on cost alone; instead, we differentiate ourselves through our emphasis on quality, innovation, reliability and long-term value,' he added.
