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SAGEM and MTU Aero Engines Create New Joint Venture, AES Aerospace Embedded Solutions GmbH

Issue 35

SAGEM (Safran group) and MTU Aero Engines today announced the signature of an agreement to form a 50/50 joint venture, AES Aerospace Embedded Solutions GmbH to provide safety-critical software and hardware for military and civil aviation applications. The agreement was signed by Philippe Petitcolin, Chairman and CEO of Sagem (Safran group), and Egon Behle, CEO of MTU Aero Engines, in a ceremony also attended by Jean-Paul Herteman, Chairman and CEO of the Safran group.

This signature follows the Memorandum of Agreement announced in December 2011 by SAGEM and MTU Aero Engines. "The grouping of competences is a determining step to jointly open new markets. Therefore, the new joint venture will offer additional positive perspectives for our businesses. Together with SAGEM we will focus on accessing a multitude of future development programs within the global aviation and defense industry," said Egon Behle, CEO of MTU Aero Engines.