The former Goodrich Electrical Power Systems business on Pitstone Green Industrial Estate near Aylesbury will now become Safran Power UK, part of the global aerospace, defence and security Safran group. Saffran Power UK is a leading supplier of on-board aerospace electrical power systems.  It has a second facility, Safran Power USA, based in Twinsburg, Ohio, employing 100 people.

Previous owners, US based Goodrich Corporation, had been sold to United Technologies Corporation (UTC) in July 2012.  As part of the deal, UTC was required by competition regulators to sell off the electrical power systems business. Safran agreed the purchase of the business for approximately EUR 310 million last October.  The sale has now been formally completed.

Chris Plumb, Managing Director of Safran Power UK 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...This transaction gives birth to a world leader in aerospace electrical power systems with a comprehensive product portfolio.  That means that we’ll continue to need the highly skilled engineers and manufacturers that we already employ – and may even bring more opportunities in the area.”