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
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »