EADS welcomes EU approval of Airbus integration
Amsterdam, 18 October 2000
The European Aeronautic Defence and Space Company, EADS, welcomes the decision by the European Commission to transform the Airbus Industrie consortium into a single corporate entity. "Together with our partner BAE Systems, we have now moved a step closer to our objective of providing Airbus with a uniform and efficient structure," Philippe Camus and Rainer Hertrich, the two EADS CEOs, said on Wednesday.
"We are therefore expecting to found the new Airbus company at the start of 2001," stated the two CEOs. The new company, controlled by EADS, will be the owner of all Airbus assets in France, Germany, the United Kingdom and Spain and the Airbus management will have full control over all capacities within the company.
With an 80 percent stake, EADS is the largest shareholder of Airbus. BAe Systems holds a 20 percent stake. "The aim of this change of corporate form is to make Airbus even more efficient and competitive," Hertrich and Camus stressed. "The new integrated structure is as important for a transparent and efficient industrial organisation as for its new projects like the super Airbus A3XX"
EADS was founded on 10 July 2000, the result of a merger between Aerospatiale Matra S.A. (France), Construcciones Aeronáuticas S.A. (Spain) and DaimlerChrysler Aerospace AG (Germany).
For information please contact :
Rainer Ohler : (+49) 89 607 34 2 55
Miguel Sanchez: (+34) 91 585 7789
Roland Sanguinetti : (+33) 1 42 24 23 27
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