Boeing, Safran form venture to make APUs

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA +1.6%) and Safran (OTCPK:SAFRF) announced a joint venture to make and service auxiliary power units ((APUs)), used to start aircraft engines and run other aircraft systems.

Both companies will have a 50% stake in the US-based venture.

The APU market has long been dominated by Honeywell (HON -0.4%) and United Technologies (UTX +0.5%), which use the component as part of a suite of avionics and services sold to airlines and cargo operators.