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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Safran SA | EU:SAF | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.60 | 1.78% | 206.40 | 205.00 | 207.00 | 206.70 | 203.80 | 205.10 | 323,192 | 16:40:00 |
From May 2019 to May 2024
LONDON--Rolls-Royce Holdings PLC (RR.LN) has agreed to develop accessory drive train transmissions for all its future civil aircraft engines in partnership with Hispano-Suiza, a power transmission specialist owned by Safran S.A. (SAF.FR).
The companies said they signed a joint venture agreement in an announcement Friday, following a memorandum of understanding on July 4.
"Based on an initial exclusive 25-year contract, the joint company will cover the entire range of civil aircraft, from business jets to widebody commercial jets," the companies said.
"In particular, it will contribute to the Airbus A330neo, a new aircraft for which Rolls-Royce won the engine contract in July 2014 with its Trent 7000," they added.
The joint venture company will be headquartered at Hispano-Suiza's site near Paris. Operations are slated to start in late 2016 or early 2017. Construction of a production plant "in a competitive country" is to start in 2015.
Write to Ed Ballard at ed.ballard@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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