A Vale aerospace business is exploring new horizons after being bought out by a global company in a massive multi-million pound deal.
The former Goodrich Electrical Power Systems business on Pitstone Green industrial estate, which employs 500 people, has now become Safran Power UK, part of the global aerospace, defence and security Safran Group for a fee of £265 million.
The company develops on-board aerospace electrical power systems helping to make aircraft lighter and fuel efficient.
A company spokesman summed up the work Safran does.
He said: “We do all the stuff you never see on a plane. This deal is a big opportunity for us, it’s really about the relationship we can build globally.”
Managing director Chris Plumb said: “Our Pitstone business is at the forefront of moves towards lighter, more efficient aircraft, and will form a key part of Safran’s strategy to compete in that market.
“The benefits of electrical power include improved safety, gains in weight and space, as well as lower fuel consumption and thus lower carbon emissions.”
The company also has a second facility, Safron Power USA, based in Twinsburg, Ohio, employing around 100 people.
The new deal means the company is further extending its global reach.
Mr Plumb added: “The transaction gives birth to a world leader in aerospace electrical power systems with a comprehensive product portfolio.
“That means we’ll continue to need the highly skilled engineers and manufacturers that we already employ.
“And it may even bring more opportunities in the area.”