Paris — French aircraft equipment manufacturer Safran said on Thursday that it has entered into talks with Air Liquide, which produces industrial gases, to buy its aeronautical oxygen and nitrogen activities.
The sale would exclude the cryogenic activities related to marine applications.
"This acquisition project would complement Safran Aerosystems' product range. In particular, On-Board Oxygen Generation Systems (OBOGS) will enable Safran to become a leading player through systems integration," the company said in a statement.
The transaction is expected to be completed by early 2024.
Based in Sassenage, France, the aeronautical technology activities of Air Liquide are focused on oxygen and nitrogen equipment and systems.
These activities had posted a turnover of over €40 million ($42.72 million) for 2022.
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