Mon, Apr 28, 2008
European Consortium Calls GA Unit "Key Element"
A French newspaper reports European
Aeronautic Defense and Space Co. (EADS) -- in its continuing quest
for cash to offset recent losses, and the continuing decline of the
US dollar -- plans to sell off its Socata division to a French
aerospace, nuclear and automotive group.
Citing union representative Lucien Cazenave, the Journal du
Dimanche reports EADS hopes the sale of Socata to Daher will offset
the loss of funds the European consortium had planned to reap by
selling off three Airbus manufacturing sites in Germany. Those
talks fell through last month.
Daher told the French newspaper "nothing is finalized" over the
sale, reports Forbes.
EADS officials would not confirm reports of the sale, but did
speak of such a development obliquely. "EADS Socata and Daher will
evaluate the future of their relationship," the consortium said
Friday. "This could include the pursuit of additional joint new
business efforts, and -- in the case of key wins, the possible
entry of Daher in the capital of EADS Socata."
Best known to US customers as the manufacturer of the TB20
Trinidad, and highly-successful TBM 850 turboprop, EADS Socata also
manufactures aerospace structures. The company partnered with Daher
in 2007 to bid for work on the upcoming Airbus A350 XWB.
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