PARIS, June 18 (UPI) -- Airbus Group and Safran are forming a joint venture to produce a new generation of space launch vehicles.
The 50-50 company, which has not yet been given a name, is the result of earlier cooperation between the two and preparatory activities under the leadership of the European Space Agency and the French Space Agency.
"It's all about enhancing the competitiveness of our space launcher business going forward," said Tom Enders, chief executive officer of Airbus Group. "The Ariane program has been hugely successful during the last 30 years, but in order to remain relevant and competitive for the future we need a much more efficient industrial structure.
"Our agreement with Safran is the starting point of an exciting journey towards a more integrated, more efficient and hence more profitable launcher business in Europe."
The new company combines the expertise in the launcher systems from Airbus Group and Safran expertise in propulsion.
Under an overall agreement, the two will further develop the Ariane 5 ME launcher with an enhanced upper stage based on Safran's Vinci engine. They will also develop the Ariane 6 launcher in a jointly agreed configuration to perform a variety of missions proposed by the European Space Agency, national space agencies and satellite operators.
The joint venture's establishment is expected to become a reality by the end of the year.
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