CHICAGO (dpa-AFX) - Boeing (BA) announced the company and Safran have received regulatory approvals for a joint venture so they can begin designing, building and servicing aircraft Auxiliary Power Units - onboard engines that are primarily used to start the main engines and power aircraft systems while on the ground and, if necessary, in flight. The companies also named Etienne Boisseau as CEO of the joint venture. Both companies have a 50 percent stake in the joint venture.
Safran is an international high-technology group, operating in the aircraft propulsion and equipment, space and defense markets. Safran is listed on the Euronext Paris stock exchange, and is part of the CAC 40 and Euro Stoxx 50 indices.
In February 2018, Safran took control of Zodiac Aerospace, significantly expanding its aircraft equipment activities.
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