Airbus, Safran join in space

Airbus and Safran agreed to set up a joint venture to develop launchers for satellites and other space vehicles in a move intended to provide stronger competition for rivals like SpaceX. The 50-50 venture will combine Airbus’s launch technology with Safran’s propulsion systems. The venture is designed to ensure Europe can keep pace with U.S. performers such as SpaceX, one of a dozen privae space companies competing to develop lower-cost technology, as well as increasing competition from China and Russia. (Source: Financial Times, 06/16/14) Gulf Coast note: Airbus and Safran both have operations in Mobile, Ala.