Safran Buying Collins Flight Control Business

Safran announced it's buying Collins Aerospace's flight control business for $1.8 billion. The French company says it wants the business unit to strengthen its own competing flight control enterprise. “The transaction would enable us to deliver a comprehensive offering to our clients and position us extremely well for next-generation platforms as the segments move toward increased electrification,” Safran Chief Executive Olivier Andries said in a news release.

The Collins business unit had sales of $1.5 billion and earnings of about $130 million last year. The deal is expected to close in late 2024 after regulatory approvals and employee consultation in both companies.