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| - The entrepreneurial saga of Maurice Mallet (1861–1926), a famous aeronaut of the late-19th century, began in Paris, France, on 22 December 1896. On that day, with two partners, Mallet founded Société Mallet, Mélandri et de Pitray, the predecessor of the Zodiac firm. The new venture specialized in the design and construction of airships. In 1909, the company manufactured and introduced the first sporting and tourist balloons. In 1934, Zodiac developed the first prototype inflatable boats, ancestors of what are known in contemporary France as “Zodiacs”.
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| abstract
| - The entrepreneurial saga of Maurice Mallet (1861–1926), a famous aeronaut of the late-19th century, began in Paris, France, on 22 December 1896. On that day, with two partners, Mallet founded Société Mallet, Mélandri et de Pitray, the predecessor of the Zodiac firm. The new venture specialized in the design and construction of airships. In 1909, the company manufactured and introduced the first sporting and tourist balloons. In 1911, the company changed its name to Zodiac and enjoyed steady growth until 1933. Zodiac contributed to the war effort by constructing airplanes, working primarily for the Aérostation Maritime (Naval Balloon Command). In 1934, Zodiac developed the first prototype inflatable boats, ancestors of what are known in contemporary France as “Zodiacs”. In 1953, the company temporarily discontinued its aeronautical activities, as the 1960s French trend of pleasure and motorboating led Zodiac to take an interest in the civil market. The company made initial moves to set up a sales organization. In 1970, with the creation of Zodiac Espace as part of a joint project with the CNES (National Centre for Space Studies), the company revived its original core business: the air balloon. In doing so, it consolidated its position on the market for inflatable products. Zodiac avoided bankruptcy due to the recognized quality of its products and a change of management. The new chief executive officer, Jean-Louis Gerondeau, appointed in late 1973 by chairman Didier Domange, implemented a drastic plan of recovery. With the support of shareholders and the assistance of the IDI (Institut pour le Développement Industriel), Zodiac held fast. In 1977, after three years of adjustment and recovery, a major contract provided the crucial break the company needed. Zodiac made a fresh start, although a concern for economy has been a key feature of corporate culture ever since. In 1978, the purchase of Aérazur and EFA led to the creation of an “Aeronautics branch”. Meanwhile, Zodiac implemented a policy of globalization and diversification through its subsidiaries. The purchase of Air Cruisers in 1987 marked a new stage in this development. For Zodiac, this first major international diversification—strengthened by the purchase of Pioneer (1988), Weber Aircraft LLC (1992), Sicma Aero Seat,C&D Aerospace (2005) and Contour Aerospace (2011)—heralded the start of a new entrepreneurial adventure. In the years that followed, the Zodiac Group achieved dominance in previously-untapped markets, often consisting of specialized niches. These, however, are sensitive to consumption swings and currency fluctuations. Zodiac's strategy of regular acquisitions and its concern to maintain a consistent industry focus led it to refocus on aeronautics, its core segment. The marine segment was acquired by Carlyle, a private equity firm with whom the Group jointly acquired the US company Waterpick the previous year. The same year, after 34 years with running the group, Jean-Louis Gerondeau transmitted the Presidency of the Board of Directors to Olivier Zarrouati, CEO of the group’s aerospace business. In 2008, Zodiac pursued its strategy of external growth, acquiring three companies that specialized in cabin interiors: Driessen, TIA and Adder. In early 2009, highlighting the refocus move initiated in 2007, the Group’s shareholders’ meeting voted to approve the new name, "Zodiac Aerospace".
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