Daher-Socata association plan approved by the WCs of EADS France, EADS Socata and Daher
Paris, 09 October 2008
As part of the exclusive negotiations held between the Daher group and EADS for the acquisition of a majority interest by Daher in EADS Socata, EADS has announced that the Central Councils and Works Councils of the three entities have all voted in favour of the acquisition.
Establishing links between Daher and EADS Socata should lead to the creation of a major player in Aerostructures, Business Aviation and Services, and give rise to the development of joint projects in these three areas, particularly on the A350 for which Socata will be a tier-one partner.
“With Daher, Socata has found a solid partner. This opens up new prospects of development. It will obviously remain a major supplier for EADS, namely on the A350 programme,” said Louis Gallois, CEO of EADS. “We are today delighted that the great majority of EADS France and EADS Socata staff representatives have understood and support the initiative.”
“Having the backing of Daher and Socata’s personnel brings recognition of the appropriateness of our development strategy. That’s why it was so important for the staff to fully understand our proposal and join in our plans,” said Patrick Daher, Chairman and CEO of the Daher Group.
This move is also in line with Daher’s strategic plan, Ambition 2012, which seeks to position Daher as a tier-one equipment manufacturer in four sectors (aeronautics, defence, nuclear and automotive) via its three business lines (industrial production, service and transport).
The exclusive negotiations between EADS and Daher are taking their course and should soon be finalised.
About EADS SOCATA
EADS Socata is one of the world’s leading general aviation manufacturers, with more than 17,000 aircraft built since its creation as Morane-Saulnier in 1911. Current products include the TBM 850 family of high-speed turboprops and aerostructures, with a specialisation in the field of civil and military transport aircraft fairing, business jet and helicopter airframes. EADS Socata is expanding its customer service activities, to support its growing fleet of TBM and offer its light aviation expertise for aircraft below 5.7 metric tons through avionics modernization, maintenance, repair and overall package offers. Headquartered in Tarbes, France, with North American operations in Pembroke Pines, Florida, EADS Socata is a wholly-owned subsidiary of EADS group.
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About EADS
EADS is a global leader in aerospace, defence and related services. In 2007, EADS generated revenues of € 39.1 billion and employed a workforce of about 116,000. The Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and EADS Astrium, the European leader in space programmes from Ariane to Galileo. Its Defence & Security Division is a provider of comprehensive systems solutions and makes EADS the major partner in the Eurofighter consortium as well as a stakeholder in the missile systems provider MBDA. EADS also develops the A400M through its Military Transport Aircraft Division.
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Media Contact:
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