Helsinki, 18 October 2001
With the official handover of the share certificates on Wednesday, EADS European Aeronautic Defence and Space Company has acquired a 26.8% share of Patria Industries Oyj. The price of the EADS share package is EUR 42 mill. The presentation of the share certificates took place at a ceremony in the presence of Markku Tapio, Director General State Shareholdings Unit at the Finnish Ministry of Trade and Industry.
At the same time it was confirmed that three EADS executives are to become new members of the nine-strong Patria board of Directors: Friedrich Dörhöfer, Chief Operating Officer Eurocopter, Hervé Garnier, Senior Vice President Western Europe of EADS International and Robert Zaun, Vice President Controlling Aeronautics Division, EADS.
The CEOs of EADS, Philippe Camus and Rainer Hertrich, stated: "EADS is now the official partner of the Number 1 in the Finnish aerospace industry. This is a further step towards integrating the European aerospace industry. The partnership with Patria offers us a good starting base in the north European market and it strengthens our defence business. Especially in the area of helicopters with the
NH90 programme, in the missiles-sector with the Mistral-programme or in the area of defence electronics we see excellent opportunities for cooperation."
Jorma Wiitakorpi, President and CEO of Patria, commented: "The strategic partnership with EADS gives Patria the chance to expand its business activities in European projects which is of great importance to us. In addition, this strengthens Patria´s ability to meet future requirements in the Nordic area, in both the commercial and defence sectors where this partnership represents a pioneering step."
Patria's core business includes products and services in the areas of aerospace, defence and telecommunications. The company has its headquarters in Finland and a number of sites in Sweden. In 2000, Patria achieved net revenues of EUR 208.5 mill. The company has a workforce of approximately 2,200.
With annual revenues amounting to EUR 24.2 billion and a workforce of roughly 100,000, EADS European Aeronautic Defence and Space Company is the largest aerospace company in Europe and the Number 2 in the world. EADS has a number of holding interests, including 80 percent in Airbus, 75 percent in the space company Astrium, 100 percent in the helicopter manufacturer Eurocopter and 43 percent in the Eurofighter programme, and is due to take a 37.5 percent stake in the guided missile producer MBDA, which is currently undergoing formation.
The contracts associated with this agreement were signed in Helsinki in June. In recent weeks, they had been approved by the Finnish government, the controlling bodies of EADS and Patria and also the competition authorities in Finland, Germany and Sweden.
Your point of contact:
Dr. Rainer Ohler
+ 49 89 607 34 235
Miguel Sanchez
+ 34 91 585 77 88
Roland Sanguinetti
+ 33 1 42 24 24 26
