(Reuters) -French engine and aircraft equipment maker Safran said on Monday it had finalised the acquisition of flight control and actuation activities from Collins Aerospace.
Safran, which also makes landing gear, brakes and cabin interiors, said the transaction is expected to generate around $50 million of annual run-rate cost synergies by 2028.
Collins Aerospace business, which generated about $1.55 billion in revenue in 2024, will be consolidated into Safran electronics and defense from August 1, the company added.
“This acquisition offers a unique opportunity to solidify our position in mission-critical flight control and actuation functions and create a global leader in this domain,” Safran CEO Olivier Andries said in a statement.
The European Commission cleared the transaction in April, nearly two years after the deal was first announced.
(Reporting by Anna PeverieriEditing by Tomasz Janowski)
