The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.3 - Manufacture Of Air And Spacecraft And Related Machinery
200 jobs Number of planned job creations
Announcement Date
24 May 2016
Employment effect (start)
1 June 2016
Foreseen end date
1 December 2017
Description
Safran is a French aeronautic company that works in the aviation sector. Safran builds and maintains components of aircrafts. Partnering with AirFrance - KLM, Safran is creating a joint venture which aims to backshore the mantainance of aircraft components from Singapore to France. Safran will hold 51% of the partnership, and Air France-KLM will hold 49%. Total forcasted investment is as much as €20 million ($22.45 million). A factory specialised in the maintenance of plane engines will open in Saint-Amand-les-eaux, near Valenciennes. 200 jobs are expected to be created, with 60 safeguarded until 2017. Both companies are partially owned by the French State, which, according to the source, has played a key role in the decision to backshore. The new French plant will specialise in the maintenance of a specific airplane engine (the CFM56 engine), which is currently the best-selling plane engine in the world. Safran is simultaneously expanding its investments in Singapore, and Safran reported that helicopter production and maintainance will remain there.
Sources
24 May 2016: Le Monde
24 May 2016: Safran Press Release
Citation
Eurofound (2016), Safran , Reshoring in France, factsheet number 192, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/192.
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