EADS Reaches Final Agreement With Daher On Socata | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 08.22.16

Airborne 08.23.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Airborne Hi-Def On YouTube

Airborne 08.22.16

Airborne 08.23.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Tweet Us The Coolest Things You See @OSH16!
#OSH16Coolest!

It's Alive!: AirVenture 2016 Innovation Preview on Vimeo!

It's Alive!: AirVenture 2016 Innovation Preview on YouTube!

Mon, Nov 03, 2008

EADS Reaches Final Agreement With Daher On Socata

French Manufacturing Group Will Take Majority Stake In Planemaker

An ongoing attempt by EADS to divest itself of general aviation planemaker Socata appears to have borne fruit. On Monday, the European aerospace consortium announced a final agreement has been reached with the Daher group, for Daher to take a majority interest in EADS Socata.

Under terms of the deal, Daher would acquire a 70% majority share in EADS Socata. As ANN reported, EADS opened talks with Daher in July, three months after word first surfaced EADS was looking at a buyer for the manufacturer.

EADS Socata is best known for its hot-selling TBM 850 turboprop. EADS hoped the selloff would help recoup massive losses brought about by delays to the Airbus A380 and A350 XWB programs.

"This Daher-Socata association will allow the creation of a leading European industrial player in the domain of aerostructures and open up new development prospects in general aviation, including for the new Socata aircraft project", said Jean-Michel Léonard, CEO of EADS Socata.

"Today we salute the success of this association, the result of more than a year's work between the management teams of the two companies to form a major player in Aerostructures, Business Aviation and Services," added Louis Gallois, CEO of EADS, after the signing of the agreement was announced. "It is also a great satisfaction to have had the support of the majority of the social partners, the Works Councils of Socata and Daher, the Central Council of EADS France, and the personnel and management of Socata, who have clearly understood the strategic importance for the future of the company."

Daher has interests in the aerospace, nuclear and automotive industries. Last year, EADS Socata partnered with the French concern to bid for work on the upcoming Airbus A350 XWB.

Before the acquisition takes effect, it must be submitted to the approval of the competent competition authorities.

FMI: www.socata.eads.net

 


Advertisement

More News

Airborne 08.26.16: Citation Longitude Update, Falcon 9 Display, N Shore Heli Rte

Also: Aerosim Scholarship, Santa Monica Nonsense, Marine One, UAV Developer Kit, FAA Penalty, F-35 Weapons Test, Coastal Helicopters The Cessna Citation Longitude moves closer to i>[...]

Airborne 08.25.16: Airlander 10 Accident, M500 EASA Cert, Flying Car Frenzy

Also: Veterans Against Airshows, Redbird Migration 2016, Rocket Debris, Charles Taylor Award, Wayward Satellite, Norfolk International, Hawaiian Airlines It was only last week that>[...]

Airborne 08.26.16: Citation Longitude Update, Falcon 9 Display, N Shore Heli Rte

Also: Aerosim Scholarship, Santa Monica Nonsense, Marine One, UAV Developer Kit, FAA Penalty, F-35 Weapons Test, Coastal Helicopters The Cessna Citation Longitude moves closer to i>[...]

Prince Harry Helps Thwart Elephant Poachers In Africa

Flies Helicopters Over Liwonde National Park As A Spotter Prince Harry has traded his military uniform for a civilian flight suit, and most recently is assisting in an effort to th>[...]

ANN's Daily Aero-Linx (08.27.16)

Experimental Soaring Association Formerly known as the Sailplane Homebuilders Association, the ESA is a national source for information regarding the design, building and flying of>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC