EADS and HAI will intensify cooperation
Athens, 17 June 2005
EADS and the Hellenic Aerospace Industry (HAI) announced today a further expansion of their business relationship. This was confirmed in an Agreement which was signed recently by Rainer Hertrich, former EADS Co-CEO, and Tassos Philippakos, HAI Chief Executive Officer, and covers a broad-scale cooperation between the two parties. As a result, the cooperation between EADS and HAI could bring a business volume to HAI of up to 300 million Euros focusing on subcontracting. Areas of joint work are embracing a great variety of opportunities including upgrades of various military aircraft, manufacture of aerostructures for both military and civil aircraft, and participation in defence and space programs. The work areas also include subcontracting and cooperation on the Eurofighter aircraft.
On the occasion of an international conference about “Security and Stability in the South-Eastern Mediterranean” held in Athens, Johann Heitzmann, President and Chief Executive Officer of EADS Military Aircraft, said: “Our mutual intention to intensify the cooperation between the most powerful European industrial aerospace and defence group and the leading Greek aerospace company will be of great benefit to both sides. A potential procurement of the Eurofighter multi-role combat aircraft in Greece would represent a unique opportunity for cooperation perspectives over the decades to come and could comprise a wide range of business topics”. Tassos Philippakos stated that “our closer partnership with EADS, one of the aerospace industry giants, satisfies our key strategic goal of moving from dependence primarily on offsets to standalone into global business partnerships. Furthermore, this apparently broadens HAI’ s prospects for participation into the European industrial collaboration”.
About EADS:
EADS is a global leader in aerospace, defence and related services. In 2004, EADS generated revenues of € 31.8 billion and employed a workforce of about 110,000. The EADS Group includes the aircraft manufacturer Airbus, the world’s largest helicopter supplier Eurocopter and the joint venture MBDA, the international leader in missile systems. EADS is the major partner in the Eurofighter consortium, is the prime contractor for the Ariane launcher, develops the A400M military transport aircraft and is the largest industrial partner for the European satellite navigation system Galileo.
About HAI:
Hellenic Aerospace Industry S.A. (HAI) is the largest state owned defence and aerospace industry in Greece, with main activities in manufacturing and support of military and civil aircraft, engines and avionics, in defence electronic and optoelectronic systems as well as in satellite communication networks.
Press contact:
| Wolfram Wolff | EADS Military Aircraft |
Tel.: +49-89-607 25711 Fax: +49-89-607 22455 mailto: wolfram.wolff@eads.com |
