French group Safran has combined its solid propulsion subsidiaries SNPE Materiaux Energetiques (SME) and Snecma Propulsion Solide (SPS) to form a new company called Herakles. The creation of Herakles follows Safran's acquisition of SME from state-owned SNPE in April 2011: a deal that was first announced in October 2010 and had been discussed for about a decade. Safran estimates that Herakles will report annual revenues of about EUR700 million (USD927.2 million). It employs a core staff of about 450 people and has a total workforce of more than 3,000 when including its subsidiaries, PyroAlliance and Structil, and part-owned affiliates Eurapropulsion, Regulus, Roxel and Suzhou SME-ChangQing.
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