·        CEO of Safran Group Philippe Petitcolin announced an investment of $74 million USD for the project.

·        President Enrique Peña Nieto met today at the official residence of Los Pinos with CEO Philippe Petitcolin and other executives from the Safran Group, one of the world’s leading aerospace companies with a presence in Mexico for over two decades.

During the meeting, they discussed the aerospace industry in our country and noted that Mexico is now ranked sixth among the suppliers of this industry in the United States.

They both welcomed the development of the aerospace sector in Mexico in recent years, which has registered annual growth of 15%.

Philippe Petitcolin informed President Enrique Peña Nieto of a $74 million USD investment in Mexico by Safran Group to build a plant in Querétaro, which will manufacture parts for the new-generation LEAP aircraft engine.

Parts at this plant will be made from composite materials, using a revolutionary technology that will allow the new LEAP engine to be lighter and less polluting.

It will be the third Safran Group plant to manufacture aircraft engines and the largest of its kind worldwide. The group already has one plant in the US and another in France.

The plant, which will be set up in Querétaro, will begin producing aircraft engine pieces at the end of 2017, creating 500 jobs, and achieve peak production in 2021.

At the meeting, President Enrique Peña Nieto congratulated Safran on its decision to expand its presence in Mexico, and thanked the group for its trust in our country.

The president also thanked to the executives of the Safran Group, since its investment in the aerospace sector in Mexico currently creates over 5,200 jobs.

The President highlighted the Safran Group’s involvement in Mexico for the 25 years and welcomed the new investment, which, he said, takes place in the context of the excellent bilateral relations between Mexico and France.

As a result, added President Enrique Peña Nieto, the aerospace industry in our country will reach new heights, becoming an industry that projects Mexico throughout the world.

The Safran Group is a high-tech French firm with a global presence, specializing, among other things, in aeronautical equipment. It develops and manufactures engines and propulsion systems for airplanes and helicopters as well as space equipment.

At the meeting, President Enrique Peña Nieto was accompanied by Governor of Querétaro Francisco Dominguez Servién, Secretary of Economy Ildefonso Guajardo Villarreal and Head of the President’s Office Francisco Guzmán Ortiz.

The Safran Group CEO was accompanied by Vice President of Safran in Latin America Oliver Pepsz, President of Safran in Mexico Daniel Parfait, and French ambassador to Mexico Maryse Bossière.