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Safran aims to become no.1 aerospace supplier

Nov. 29, 2018 7:32 AM ETSafran SA (SAFRY) StockUTX, SAFRF, SAFRY, ZODFF, ZODFYBy: Yoel Minkoff, SA News Editor4 Comments
  • 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.

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