Following the closing, Safran intends to operate L-1 as part of its existing security business, Morpho, in accordance with US national security regulation, to create an industry-leading provider of solutions for high tech homeland security. Benefits would include:
- A highly complementary combination of security technology and products that would offer enhanced ID solutions with best-of-class products in all their offerings; - A combination of the best ID management solutions and detection of illicit and dangerous materials providing an offer of the highest standards for travel security; - A broad geographical fit with balanced operations in around 40 countries and approximately Euro 1.35 billion in 2009 pro-forma revenue (comprised of USD 436 million from L-1's businesses); - A combination of outstanding teams, that would share a strategic vision and be positioned to address the high growth and attractive potential of global biometric and identity management requirements; and - A combination of deep experience from both firms in serving in the United States and elsewhere, with the highest standards of quality, high profile public and governmental customers.
Commitment to U.S. stakeholders
With more than 4,000 employees working at 40 locations across 18 states,
Safran's sales to U.S. customers represented approximately Euro 2.5 billion
in 2009 revenue. It should be noted that CFM International, founded in 1974,
is a company equally-owned by Safran and GE and the most successful venture
in the history of civil aviation. The two companies agreed in 2008 to extend
their cooperation until 2040. Safran is a long standing and trusted partner,
having served for decades a large spectrum of key contributors to the U.S.
economy such as Boeing, Lockheed Martin, as well as eight out of the ten
largest U.S. airlines and notable U.S. government agencies, including the
U.S. Armed Forces (the Army, Na
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