Thu, Jun 18, 2009
Hopes To Build Business In U.S. Military Market
European Aeronautic, Defence & Space Co. (EADS) is looking
to build business in the worlds largest military market by seeking
U.S. companies to buy. “What we look for is value -- today it
can be anything up to a half a billion dollars,” Ralph Crosby
said in an interview at the Paris Air Show. Crosby leads the EADS
unit dealing with all non-Airbus activities directed at the
military, federal, and homeland security markets.
Bloomberg News reports EADS expects U.S. sales to more than
triple, growing to %1.5 billion in the coming year. The company's
success has come primarily in helicopters, with orders for up to
322 Light Utility Helicopters to be used primarily for border
patrol, evacuation, and drug interdiction. It beat rival Bell
Helicopter for a lucrative contract to build helicopters for the
U.S. Military worth $1.7 billion in 2005. Along with North American
Partner Northrop Grumman, EADS is in direct competition with Boeing
on an aerial refueling aircraft contract which was just turned back
for re-bid. Boeing says it will re-structure it's tanker proposal
based on the 777 airframe, rather than the smaller 767. EADS
bid is based on an Airbus A330-200. “It doesn’t
change anything,” Crosby said of Boeing’s latest
considerations. “We know what our offer is. We’ve
completed against Boeing five times and we’ve won five times,
because of the size, because of the inherent capability and most
important because of the maturity” of EADS’s offering,
Bloomberg reported.
Still, given the state of the world economy, EADS is limiting
its U.S. acquisition targets to $500 million. The company had gone
after two larger properties in the last year, but its board chose
instead to preserve cash, EADS Chief Operating Officer Marwan
Lahoud said June 13.
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