DASA, Aerospatiale to merge.
Published:
17 October 1999 y., Sunday
German aerospace group DASA said on Thursday it planned to merge with France_s Aerospatiale-Matra to create Europe_s largest aerospace company with annual sales of about 21 billion euros. "THE NEW COMPANY will be a listed, joint stock company which would give shareholders a unique opportunity to invest in the European aerospace industry," DASA_s parent company DaimlerChrysler said in a statement. The statement, which was issued by DaimlerChrysler on behalf of the French State and of the Lagardere Group which owns Aerospatiale, said the new group would be the third largest aerospace company worldwide. The Franco-German cooperation would be called European Aeronautic, Defense and Space Company (EADS) and will employ over 89,000 people. It will start operating in the first half of 2000, pending approval by supervisory authorities and the implementation of appropriate capital measures. The EADS board would be headed by Manfred Bischoff, now head of DASA, and Lagardere Chairman Jean-Luc Lagardere. The operative board will also have a German and French head. The company will have dual headquarters in Munich and Paris and be registered in the Netherlands. An agreement would be signed in Strasbourg today, it added. Sources say that French Prime Minister Lionel Jospin and German Chancellor Gerhard Schroeder will attend the briefing. DaimlerChrysler said a holding company would control 60 percent of the new group and a further 40 percent would be floated.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »