The European Commission having on Thursday cleared the way for the European Aeronautic Defence and Space Company (EADS), the three partner companies are now moving full speed ahead in their preparations for the establishment of the new company and the initial public offering, which are planned to take place simultaneously. This was announced by Aerospatiale Matra (Paris), Construcciones Aeronáuticas S.A. (CASA, Madrid) and DaimlerChrysler Aerospace AG (Dasa, Munich) immediately after the decision had become known. The three companies are in the process of merging to form Europe’s largest aerospace company and the number three worldwide.
“We are perfectly on schedule”, said Philippe Camus, President of Aerospatiale Matra and Co-CEO designate of the future EADS and Rainer Hertrich, President and CEO of Dasa and also Co-CEO designate. “As planned, the company can be founded and the initial public offering can take place this summer. Investors will therefore soon have the opportunity to participate in the market success of Airbus, Ariane, Eurofighter, Tiger, Rafale, military transport aircraft and other high-tech programmes of this first transnational European aerospace group.”
Both CEOs designate welcomed the decision by the European Union. “The European authorities have given the green light for a European aerospace company that will be able to offer its customers top-quality high-tech products at a competitive price and its shareholders profitable growth,” noted the future heads of EADS. “Moreover, the already noticeable keen interest shown by our potential shareholders means that we have a commitment to proceed with the merger and the initial public offering with speed and bring them to a successful conclusion.”
The European Commission insisted that an alternative independent supply source had to be established for certain carbon fibre composite parts (central tubes, antenna reflectors) used in telecommunications satellites. Aerospatiale Matra, Dasa and CASA have thus undertaken to provide related and necessary equipment together with adequate support so that suitable purchasers can design and manufacture such composite structures. These undertaking will be implemented in accordance with all applicable laws and regulations.
“These concessions will by no means affect the capability of EADS to serve its customers in the satellite business”, emphasized Camus and Hertrich. “EADS will continue to be a technology leader and will deliver state of the art products to commercial and institutional customers.”
Three companies are merging to form EADS who have already worked together successfully over several decades and who have captured leading positions in the global markets. Together, through Eurocopter, Ariane and Airbus the partners have reached a good position on the world markets and are also successful manufacturers in the fields of guided missiles and satellites.
Decisions from the French “Commission des Participations et des Transferts” and from Aerospatiale Matra and Dasa shareholders are the last steps to come before the final establishment of EADS.