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Zodiac Aerospace
Company typePublic
Euronext: ZC
ISINFR0000125684 Edit this on Wikidata
IndustryAerospace equipment and systems suppliers
FounderMaurice Mallet
Defunct1 December 2018 (2018-12-01)
FateAcquired by Safran
Headquarters,
France
Key people
Yann Delabrière (Chairman/CEO)

Maurice Pinault (Deputy CEO)

Didier Domange (Chairman-Supervisory Board)
Productsinterior furnishings and control systems of aircraft.
BrandsZodiac Aerosafety, Zodiac Aircraft Systems, Zodiac Cabin & Structures, Zodiac Galleys & Equipment, Zodiac Seats, Zodiac Aerospace Services
Revenue€5.2 Billion [1] (2015-2016)
€108.1 million (2015-2016)
Number of employees
35,000 (2015-2016)
Websitewww.zodiacaerospace.com

Zodiac Aerospace was a French aerospace group founded in 1896 that supplied systems and equipment for aircraft.[2] In October 2018, it was acquired by French aerospace and defense company Safran.[3] At the time of acquisition, it was one of the oldest aerospace groups known to exist.

History

Aeronautic foundations (1896-1933)

The company was founded in 1896 as "Mallet, Mélandri et de Pitray" by Maurice Mallet and his associates. In the beginning, the company was involved in the production of hydrogen balloons for sport and tourism.

In 1909, the company changed its name to "Zodiac." The company then experienced a boom fueled by the construction of airplanes and airships, especially for the Aérostation Maritime (Naval Balloon Command), and through its participation in the war effort. Until the 1930s, 63 airships would leave Zodiac's workshops.[4]

Marine activities (1934-1972)

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In 1934, the company created the first prototype inflatable boats, ancestors of the renowned "Zodiac," which would contribute to the development of the civil and military inflatable boat industry. The company then benefited from the boom in leisure activities after the Second World War, as well as the French infatuation with recreational boating in the 1960s: Zodiac, therefore, developed inflatable boats for the civil market and gradually gave up the airship market for the more promising water sports market. Zodiac would nevertheless honor a contract in 1966 with CNES (Centre National d'Etudes Spatiales - National Centre for Space Studies) for the production of a meteorological balloon, in the scope of the EOLE project. At the end of the 1960s, the Group reorganized and set up its first sales operation for exporting its products overseas more easily. In 1964 it opened its first subsidiary in Spain - "Zodiac Española" - followed by "Zodiac North America" in 1970.

Group internationalization (1973-1989)

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At the beginning of the 1970s, Zodiac experienced financial difficulties. Spurred on by its new CEO, Jean-Louis Gerondeau, and with the support of shareholders and the IDI (Institute pour le Development Industrial - French Institute for Industrial Development), the Group recovered by 1977. In 1983, Zodiac was the first company to be listed on the 'Second Market' of the Paris Stock Exchange. The firm conducted an international development policy and increases its acquisitions, thereby enabling it to position itself in niche markets on a global scale. In 1978, it acquired Aérazur Constructions Aéronautiques and thus re-entered the aerospace market. In 1979, it acquired EFA (Parachutes), which led to the creation of the aerospace segment, and continued its development in marine and aerospace with the acquisitions of Bombard-L'Angevinière (ranked second in inflatable boats), Saylor (leading French producer of light PVC inflatable structures) in 1981 and Superflexit (flexible tanks) in 1983, as well as the takeover of Parachutes de France (sport parachutes). In 1987, Zodiac acquired Air Cruisers (leader in evacuation slides), Metzeler (inflatable boats), B. Kern, and Europol in 1988, it acquired Pioneer, at the time the second American manufacturer of deceleration and engine braking recovery systems through parachutes.

Development of aerospace businesses (1990-2006)

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In the 1990s, the Group continued its acquisitions, strengthening its aerospace business. In 1998, Monogram Systems (onboard water and waste management) joined, as did the Inter technique Group in 1999. The latter acquisition significantly increased the aerospace share in the Group's business and later enabled the creation of the Aircraft Systems segment, specializing in on-board systems.

From 2002 to 2006, Zodiac successively acquired ESCO (emergency arresting systems), ICORE (cable protection and interconnect systems), Avox Systems (oxygen systems), C&D Aerospace (cabin interiors), Enertec and In-Snec (telemetry and data recording).

Split and refocus on aerospace (2007-2018)

In September 2007, the Zodiac Group sold its Marine business to a holding company, 72% owned by the American Group Carlyle with 28% being retained by Zodiac, thus creating Zodiac Marine and Pool.[5] In November 2007, Olivier Zarrouati succeeded Jean-Louis Gerondeau as Chief Executive Officer.[6]

At the beginning of 2008, the Group was renamed Zodiac Aerospace and adopted a new logo. At the end of 2008, Zodiac Aerospace strengthened its position in the cabin interiors segment by acquiring the Dutch company Driessen (leading manufacturer of galleys for single-aisle aircraft and trolleys), Adder (cabin separators) and TIA (electrical equipment for galleys, mainly for the business aircraft market). Zodiac Aerospace continued its acquisition strategy in cabin interiors as well as in systems. In 2010, the Canadian company Cantwell Cullen & Co (cabling and interconnect systems) and the German company Sell GmbH (galleys for wide-bodied aircraft) joined the Group.

The year 2010 was marked by a takeover bid for Zodiac Aerospace by the French Group Safran. At the beginning of July 2010, Zodiac Aerospace announced that it had been officially approached by Safran and that, having examined Safran's proposal, its Supervisory Board had unanimously decided not to pursue it. For several months, Zodiac and Safran squared up in the media. In November 2010, the AMF (French Financial Markets Authority) summoned Safran to clarify its position: its CEO, Jean-Paul Herteman announced in November 2010 that he had given up his plan to acquire Zodiac Aerospace. Since 2011, Zodiac Aerospace has continued its acquisitions:

In September 2012, Zodiac Aerospace put in place an organization comprising five segments (Zodiac Aero safety, Zodiac Aircraft Systems, Zodiac Cabin & Structures, Zodiac Galleys & Equipment and Zodiac Seats), complemented by an after-sales service business, Zodiac Aerospace Services.

Explosion

On Tuesday, 14 July 2015, an explosion occurred in a prepreg treater at Zodiac Aerospace's Engineered Materials Plant in Newport, Washington, United States.[9] Five individuals were injured as a result of the blast,[10] and people were asked to remain at least 600 meters from the building.[11][12]

Acquisition by Safran

On 19 January 2017, Safran announced a deal to buy Zodiac at €29.47 per share in cash, with a deal total of almost €10 billion ($10.5 billion).[13] In May 2017, Safran reduced the amount offered to take Zodiac by $1 billion after Zodiac posted an unfavorable earnings forecast.[14] On 19 October 2018, Safran and Zodiac Aerospace signed an agreement for the latter to merge into Safran.[15]

Zodiac Aerospace brand

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When it was founded in 1896, the company was called "Mallet, Mélandri et de Pitray". It changed its name several times during the course of its history. In 1899, it became "Ateliers de constructions aéronautiques Maurice Mallet" (Maurice Mallet aerospace construction workshops), and nine years later it became "Société Françoise des balloons dirigibles" ("French company of balloons and dirigibles"). In 1909, the name Zodiac (with an English spelling) appeared in the name "Société Françoise de balloons dirigibles et d'aviation Zodiac" ("French company of balloons, dirigibles, and aviation, Zodiac"), followed in 1911 by "Société Zodiac, anciens Établissements aéronautiques Maurice Mallet" ("Zodiac Company, formerly Maurice Mallet aeronautical establishments"). In 1965, the company changed its name to "Zodiac". The name Zodiac is associated with the inflatable boats that were developed after the Second World War and made famous by the explorations of Jacques Cousteau and the experiences of intentional castaway Alain Bombard. For this reason, when the Zodiac Group sold its Marine business in 2007, the Zodiac brand was also sold. In accordance with the agreements signed with the acquiring company, the Group took the name of "Zodiac Aerospace", which emphasized its refocus on aerospace. This name change was accompanied by the creation of a new logo.

Organization

Zodiac Aerospace at Paris Air Show 2017
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Zodiac Aerospace provides equipment for commercial aircraft, regional aircraft, and business aircraft as well as helicopters and spacecraft. The Group consists of 5 operational segments, supported by a service activity.

Zodiac Aerosafety

Zodiac Aerosafety brings together businesses that develop on-board and ground safety systems as well as protection and rescue solutions.[16] This segment comprises 5 divisions, mainly located in Europe and the United States.

Zodiac Arresting Systems (EMASMAX®)

Zodiac Aircraft Systems

The Zodiac Aircraft Systems segment specializes in onboard systems that provide essential in-flight functions.[17] This segment comprises 7 divisions and is mainly located in Europe (France and Germany) and in the United States.

Zodiac Galleys and Equipment

The Zodiac Galleys & Equipment segment comprises three divisions, located in Europe (France, Germany and the Netherlands), the United States and Thailand.[18]

Zodiac Cabin & Structures

The Zodiac Cabin & Structures segment designs and manufactures cabin interiors for fitting out new aircraft and refitting old aircraft.[19] It is mainly located in the United States.

Zodiac Seats

Zodiac Seats designs, manufactures and sells passenger seats (first class, business class, premium economy, and standard economy class) for commercial and regional aircraft as well as technical seats (for aircraft pilots, seats for helicopters, and seats for flight crew).[20] This segment comprises 4 main divisions:

Zodiac Aerospace Services

Zodiac Aerospace Services is the after-sales service activity of Zodiac Aerospace Group.[21] It has locations in Europe, the United States, the Middle East and Asia.

Governance and management

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Zodiac Aerospace Group is a Limited Company with an Executive Board and a Supervisory Board. It is managed by the Executive Board, chaired by Olivier Zarrouati and by the Executive Committee. The Supervisory Board is chaired by Didier Domange.

Markets and strategy

The products and systems developed by Zodiac Aerospace mainly address the civil aerospace market.[22] They break down into two categories:

[23] This development is based both on organic growth as well as growth by acquisition.

Innovation

Zodiac Aerospace takes part in research and innovation programs that bring together various industry players.

Zodiac Aerospace also supports innovation through the Jean-Louis Gerondeau Award, created four years ago to reward undergraduates or PhD students of the Ecole Polytechnique, championing a business creation project and encouraging entrepreneurial spirit and innovation.[26][27]

Key figures

Zodiac Aerospace's fiscal year starts on 1 September and ends on 31 August.[28][29]

Share ownership and stock market information

Zodiac Aerospace's shares are listed on the Euronext Paris market. As at 29 March 2016, Zodiac Aerospace's share capital stood at €4,515 million euros made up of 289,407,962 shares.[30][31]

Fiscal year 2013 / 2014

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Corporate social responsibility

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Philanthropy

For many years, Zodiac Aerospace has been supporting the Petits Princes association at Group level.[32] The Group also provides support for projects that encourage scientific research, as with "Wings for Science" in 2012 for example. Subsidiaries also support local initiatives, mainly in the fields of health and education.

Wings for Science

Since 2012, the Group has been supporting the ORA (Observer Relever Analyser - Observe Record Analyze) association through the supply of equipment.[33] The objective of this project is to make a light aircraft available to research laboratories to support scientific work and to inspire young people. In June 2013, the aircraft was displayed at Le Bourget during the Paris Air Show.[34]

Local initiatives

Around the world, Zodiac Aerospace's subsidiaries support local initiatives on education and health. For example, two Group entities (Zodiac Galley Inserts and Zodiac Oxygen Systems) gifted equipment to the ORBIS association in 2013; this was used to equip a hospital in an aircraft travelling in troubled countries to care for people with eye problems and to take the latest medical innovations to local doctors.[35]

References

  1. ^ "Le bénéfice de Zodiac Aerospace chute de 40%". BFM Business. 22 November 2016.
  2. ^ "Zodiac Aerospace | Company Overview & News". Forbes. Retrieved 19 August 2023.
  3. ^ "Six years after snub, France's Safran bags seatmaker Zodiac". Reuters. 19 January 2017. Retrieved 19 August 2023.
  4. ^ "Milestones". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  5. ^ Nouvelle, L'Usine (17 April 2007). "Zodiac largue les amarres de ses activités Marine - Aéronautique". Usinenouvelle.com. Retrieved 18 July 2015.
  6. ^ "Olivier Zarrouati". Lesechos.fr. 21 November 2013. Retrieved 18 July 2015.
  7. ^ "Zodiac buys Greenpoint as industry consolidation continues apace - Runway GirlRunway Girl". Runwaygirlnetwork.com. 27 January 2014. Retrieved 18 July 2015.
  8. ^ "Zodiac Aerospace aims to become major player in connectivity - Runway GirlRunway Girl". Runwaygirlnetwork.com. 14 July 2015. Retrieved 18 July 2015.
  9. ^ "Zodiac Aerospace says U.S. factory blast only affects part of plant - Yahoo News". News.yahoo.com. 17 July 2015. Retrieved 18 July 2015.
  10. ^ "Five hurt in explosion at Washington state aerospace plant". Fox News. 14 July 2015. Retrieved 18 July 2015.
  11. ^ "Zodiac Aerospace explosion in Newport injures five". Usatoday.com. Retrieved 18 July 2015.
  12. ^ Smith, Alexander (1 January 1970). "Explosion at Washington's Zodiac Aerospace Plant Injures Two". NBC News. Retrieved 18 July 2015.
  13. ^ "Safran to Buy Zodiac for $10 Billion in All-French Aero Deal". Bloomberg. Bloomberg L.P. 19 January 2017. Retrieved 19 January 2017.
  14. ^ "Safran Shaves $1 Billion From Zodiac Bid After Profit Warnings". Bloomberg. Bloomberg L.P. 24 May 2017. Retrieved 19 October 2017.
  15. ^ "Signing of the agreement to merge Zodiac Aerospace into Safran and setting of the exchange ratio" (Press release). Safran. 19 October 2018. Retrieved 20 October 2018.
  16. ^ "Aerosafety". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  17. ^ "Aircraft Systems". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  18. ^ "Galleys & Equipment". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  19. ^ "Cabin & Structures". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  20. ^ "Seats". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  21. ^ "Services". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  22. ^ "Parachute ascensionnel". Le Monde. 21 September 2013. Retrieved 18 July 2015.
  23. ^ "Avec Zodiac, les niches montent au ciel". Lesechos.fr. 13 March 2014. Retrieved 18 July 2015.
  24. ^ "Project Details |". Hycarus.eu. Retrieved 18 July 2015.
  25. ^ "Pourquoi l'avion électrique E-Fan d'Airbus est un sacré défi- 25 avril 2014". Challenges.fr. 25 April 2014. Retrieved 18 July 2015.
  26. ^ "Appel à candidatures - Prix JL Gerondeau / Zodiac Aerospace | Ecole polytechnique" (in French). Polytechnique.edu. Retrieved 18 July 2015.
  27. ^ "Olivier Zarrouati est l'invité de l'X | Ecole polytechnique" (in French). Polytechnique.edu. Retrieved 18 July 2015.
  28. ^ "Annual reports". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  29. ^ "Key figures". Zodiac Aerospace. Retrieved 18 July 2015.
  30. ^ "Cours action ZODIAC AEROSPACE | ZC | Cotation Bourse Paris - Les Echos Bourse". Bourse.lesechos.fr. Retrieved 18 July 2015.
  31. ^ "Cours Zodiac Aerospace, Action Zodiac Aerospace, Cotation Zodiac Aerospace, Zc". Boursorama. Retrieved 18 July 2015.
  32. ^ "Philanthropy". Zodiac Aerospace. 17 February 2012. Retrieved 18 July 2015.
  33. ^ "wingsforscience". wingsforscience. Retrieved 18 July 2015.
  34. ^ "Home". Issy.com. Retrieved 18 July 2015.
  35. ^ "Orbis". Orbis. Retrieved 18 July 2015.