Safran SA

Aerospace, Aviation, Conglomerate, Defense
2048
Euronext: SAF
France
Safran

Safran maintains a "Safran North America" website, which highlights Safran's "significant physical presence in the United States, comprised of 32 companies and joint ventures operating across 58 locations in 22 states."

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According to the Safran North America website, "The company’s largest end-user is the U.S. Department of Defense, with its technologies equipped on such vital military and government platforms as the KC-135R aerial tanker, F-22 Raptor fighter jet, UH-72A Lakota Light Utility Helicopter and Delta IV launch system."

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“Multiple companies currently exploring new business ventures in Iran are also cashing in on highly lucrative contracts with the U.S. Defense Department, raising questions about whether their dealings with Iran could run afoul of U.S. law. At least 13 major international companies have said in recent weeks that they aim to reenter the Iranian marketplace over the next several months. The companies have received Pentagon contracts totaling well over $107 billion, according to a Washington Free Beacon analysis that tracked DoD contracts awarded since fiscal year 2009. Many of the companies, which include carmaker Renault and oil giants such as BP, have already sent high-level trade delegations to Tehran to meet with Iranian officials about striking new business deals…These companies include Boeing and General Electric—which have DoD contracts worth $87 and $12 billion respectively—as well as the Italian oil company Eni, Merck, Safran, Vitol, Bosch Rexroth, Sanofi Pastuer, and AVL.” (Washington Free Beacon, “Pentagon Contractors Exploring Business with Iran,” 2/25/14)

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“Iran [welcomes] the most senior French trade delegation in years on Monday, telling more than 100 executives that the farsighted among them stood to win the race for business following an easing of some economic sanctions…'A new chapter has begun in relations between Iran and Europe,' Mohammad Nahavandian, President Hassan Rouhani's chief of staff, was quoted as saying by the official IRNA news agency. ‘You should carry the message back that potential for cooperation with Iran is real and not to be overlooked,’ he told the delegation. ‘Those with longer foresight stand to win this race.’ The delegation of more than 100 executives from Medef, the French employers' association, on a Feb 2-5 trip, met Nahavandian and members of Iran's Chamber of Commerce, Industries, Mines and Agriculture, IRNA said. A source close to the delegation told Reuters it was the most senior group of entrepreneurs and financiers to visit Iran since the 1979 revolution, representing the defence, aviation, petrochemicals, automotive, shipping and cosmetics sectors. Among companies represented were Safran, Airbus , Total, GDF-Suez, Renault, Alcatel, Alstom, Amundi and L'Oréal, the source said. ‘Many of these firms have worked in Iran before and their goal now is to restore links,’ the source said. ‘The very makeup of the delegation shows these people are here to evaluate potential for cooperation.’ A French embassy source in Tehran said the visit was merely exploratory and ‘nothing is to be signed this time around.’” (Reuters, “Iran welcomes French business chiefs after sanctions eased,” 2/3/14)

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"Executives from some of France's biggest companies…are slated to fly to Tehran next month—signaling a fresh wave of corporate interest in Iran as the West eases sanctions. Details of the high-level business trip are emerging after Iran and Western powers completed the terms of an interim nuclear deal on Sunday, with Tehran agreeing to closer international monitoring of its nuclear program in exchange for limited, temporary sanctions relief. The deal specifically eases restrictions related to Iran's aviation, auto and petrochemicals industries…A spokesperson for Safran SA, which makes propulsion engines and other aircraft spare parts, said that it was considering sending a representative on the trip but that no final decision had been made.” (Wall Street Journal, “French Companies Explore Return to Iran Amid Sanctions Thaw,” 1/13/14)