- France's Safran (OTCPK:SAFRY) has unveiled ambitions to become the world's leading aerospace supplier in 15 years, overtaking United Technologies (NYSE:UTX), as it pledged an R&D spending drive while increasing cash returns to shareholders.
- The French aerospace engine and equipment supplier added that it did not plan major new acquisitions after buying Zodiac Aerospace (OTCPK:ZODFY) to fulfill its goals.
- "The priority will focus on organic development," the company said in a statement.