French aerospace group Safran has bought 70% of European rocket engine igniter specialist Aerospace Propulsion Products (APP) for an undisclosed sum.
The stake in the group, which has 38 employees, is being acquired from Dutch investment firm TNO…
French aerospace group Safran has bought 70% of European rocket engine igniter specialist Aerospace Propulsion Products (APP) for an undisclosed sum.
The stake in the group, which has 38 employees, is being acquired from Dutch investment firm TNO Companies through Safran’s rocket motor subsidiary Herakles.
The deal will combine their respective areas of expertise in pyrotechnic devices, helping them to play a larger role in European Space Agency programmes.
Herakles CEO and chairman Philippe Schleicher said: “We have built a long-standing partnership with APP and we greatly appreciate its technology, which is critical for launch vehicles. We believe that the combination of APP’s and Herakles’ skills will drive both innovation and growth for both parties.”
TNO Companies was set up in 1987 to get the scientific knowledge developed by its TNO division, an independent research organisation, to market through acquisitions and venturing with financial and commercial players. Its portfolio of companies also includes a specialist in automatically reading text for logistical purposes, and a group promising speedier pre-clinical phases for biological drugs.
APP was set up in 1989 and its ignition systems have been used on rockets including the Ariane 5 launch vehicle for its Vinci engine. It also contributes to Vega, the latest European launch vehicle.
