EADS and Finmeccanica expect signing of agreement on Military Aircraft Company in first quarter 2001
Rome/Paris/Munich, le 18 décembre 2000
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Due Diligence underway
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Current joint space projects between Astrium and Alenia Spazio to be continued
EADS European Aeronautics Defence and Space Company and Finmeccanica expect the signing of the joint venture agreement to form the European Military Aircraft Company as early as in the first quarter of 2001. The preparations for this joint venture company, which will be the largest in the European military aircraft and aerostructures area, are progressing quickly with the business analysis, valuation and due diligence process currently being underway. Following a recent review of the status of implementation of the company, both EADS and Finmeccanica have reconfirmed their full commitment to the new venture.
In the context of a joint review of their space interests, both companies have also reaffirmed their full dedication to support the major space programs presently being jointly pursued by their respective space companies, Astrium, which is majority owned by EADS, and Alenia Spazio, Finmeccanica's fully owned space subsidiary. The programs include, among others, the International Space Station and the Galileo global navigation satellite system being developed by the European Union. The companies are committed to extend their extensive collaborations in the field of satellite and space infrastructure development to enhance the opportunity for future joint programs in Europe and worldwide.
In the course of the same review, EADS in consultation with BAE SYSTEMS (25 per cent shareholder of Astrium) and Finmeccanica have also decided to suspend further discussions on the opportunity to merge Astrium and Alenia Spazio at this time, as the premises of the 1998 Heads of Agreement, signed by Finmeccanica, Marconi Electronic Systems, Lagardère SCA and former DaimlerChrysler Aerospace (Dasa), have been substantially altered as the result of the merger of some of the signatories and subsequent reorganization of their space related activities.
Your points of contact:
EADS:
Dr. Rainer Ohler
Tel. +49 89 607 34235
Finmeccanica:
Antonella Zivillica
Tel. +39 06 32 47 33 13
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