Safran Completes Part Acquisition of GE Homeland Protection
Safran and GE have completed the transaction originally announced on April 24, 2009, for Safran to acquire 81 percent of GE's Homeland Protection business (GE Homeland Protection). GE will retain a 19 percent stake in the company, as well as a seat on the Board of Directors. Homeland Protection is a leader in explosive and narcotics detection for aviation safety, checked baggage screening, military and critical infrastructure protection and new growth platforms in Chem/Bio, X-ray and Radiation/Nuclear detection. Safran group's subsidiary Sagem Securite will operate the new business. Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defense and Security.