Final agreement between EADS and the Daher group for Daher to take a majority interest in EADS Socata
Paris, 03 November 2008
Daher and EADS today announced the conclusion of the agreement for Daher to acquire a 70% majority share in EADS Socata.
"This Daher-Socata association will allow the creation of a leading European industrial player in the domain of aerostructures and open up new development prospects in general aviation, including for the new Socata aircraft project", declared Jean-Michel Léonard, CEO of EADS Socata. "Today we salute the success of this association, the result of more than a year's work between the management teams of the two companies to form a major player in Aerostructures, Business Aviation and Services", commented Louis Gallois, CEO of EADS, after the signing of the agreement was announced. "It is also a great satisfaction to have had the support of the majority of the social partners, the Works Councils of Socata and Daher, the Central Council of EADS France, and the personnel and management of Socata, who have clearly understood the strategic importance for the future of the company."
Before the acquisition takes effect, it must be submitted to the approval of the competent competition authorities.
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.
Media Contact:
| Gaëlle Pellerin | EADS |
Tel.: + 33 1 42 24 22 54 www.eads.net |
| Philippe de Segovia | EADS Socata |
Tel.: +33 6 70 21 70 47 www.socata.eads.net |
