France evaluates purchase Italian ex-Microtecnica
The deal is worth approximately USD 48 bn and is expected to close in 2024
The French group Safran, a company operating in the defense sector and which produces engines for Rafale military aircraft, announced the start of negotiations for the purchase of the former Microtecnica, a Turin-based company that deals with "flight control" activities owned by the American Collins Aerospace (Raytheon group). The deal is worth about 48 billion dollars and should be concluded in 2024. Among the 750 employees of the former Microtecnica, however, there is concern for the future.
"The proposed transaction represents a unique opportunity to develop our position in critical flight actuation and control functions. The highly complementary products would create a world leader in these market segments" and "offer a comprehensive offering to our customers", said Safran Chief Executive Officer Olivier Andrles.
The secretary of Fiom Torino, Edi Lazzi, shines a light on the possible sale: "It is necessary not to underestimate the issue also because the aerospace sector is strategic for Turin. We immediately ask for the opening of a discussion at national level with the company and local institutions. Instead, we are interested in knowing exactly what the production and design prospects will be, as well as the employment effects on our territory".
The former Microtecnica, born as a company of compasses and gyroscopes, has specialized over the years in the aerospace business: flight controls for helicopters and military fighters, missile pointers. The industry has offices in Turin, Luserna, San Giovanni and Brugherio. It produces flight control systems (actuators), engine valves, air management systems, hydraulic components for helicopters for the Tornado (since 1974), Eurofighter, Airbus, Leonardo, Mitsubishi and Cessna aircraft and helicopter consortia.
AVIONEWS - World Aeronautical Press Agency