Statement from Safran
30-Aug-2010 Following certain information published in the press this morning, Safran would like to reiterate the statements made in its press release of 11 July (see below), and states that the Group is not in the process of preparing an offer for Zodiac.
Safran indicates that there have been no new developments since the previous press release. The Group remains convinced of the industrial and strategic logic of bringing together the activities of both groups, for all stakeholders involved.
From the press release issued by Safran on 11 July 2010:
Safran confirms that a letter was addressed to the Chairman of the Supervisory Board of Zodiac proposing that the two groups examine the merits of bringing their activities together.
At this point, Safran acknowledges the reaction of Zodiac's Board while remaining convinced of the obvious logic from an industrial and a strategic perspective, for all stakeholders involved, of bringing the businesses together in the context of the inevitable trend towards consolidation of first tier aerospace equipment firms.