Safran Chooses France for $500 Million Carbon Brakes Factory Amid Energy Concerns
Safran, a French aerospace group, has chosen France for its $500 million carbon brakes factory, over competitors from the U.S. and Canada, focusing on utilizing secure clean energy. This decision marks a significant step in local industrial regeneration, aligning with President Emmanuel Macron's political agenda.
French aerospace giant Safran has announced plans to build a $500 million carbon brakes factory in France, a victory over competitive bids from the U.S. and Canada. This decision underscores France's appeal in the aerospace sector, bolstered by changes at state energy company EDF.
The announcement coincided with Safran's improved mid-year earnings, revealing that energy supply concerns were crucial in their location choice. President Emmanuel Macron praised the decision, calling it an act of sovereignty and a boost to local industry, aligning with his initiatives for national economic revitalization.
The decision was influenced by potential energy supply issues linked to geopolitical tensions and changes at EDF. Safran CEO Olivier Andries emphasized the importance of long-term energy supply stability. The plant in Ain will augment Safran's global production capabilities, raising output by 25% by 2037.
(With inputs from agencies.)
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