MTU Aero, Safran Agree on Fighter-Jet Engine Project, Plan JV by End of 2021
December 03 2019 - 6:09AM
Dow Jones News
By Max Bernhard
Safran S.A. (SAF.FR) and MTU Aero Engines AG (MTX.XE) said
Tuesday that they have settled details concerning their partnership
to develop an engine for the next generation of European fighter
aircraft.
The two companies said they agreed to form a fifty-fifty joint
venture, to be incorporated by the end of 2021, to manage the
development, production and after-sales support of the new
engine.
According to a letter of intent signed in February, Safran will
take the lead in engine design and integration, while MTU Aero will
take the lead in engine services.
"In the framework of the contractual scheme defined by France
and Germany, Safran Aircraft Engines will be the prime contractor
and MTU Aero Engines the main partner for the first phase of
research and technology," they said.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
December 03, 2019 05:54 ET (10:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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