EADS To Set Up Holding Firm For Airbus Sites
EADS is to establish a holding company for the three German Airbus sites it is trying to divest, following the failure of talks with its original prospective partner. As an interim measure the manufacturer is to package together the Varel, Nordenham and Augsburg facilities under an EADS subsidiary called German Aerostructures Company. Attempts to divest the three sites to Germany's MT Aerospace failed in March after the two sides were unable to reach an agreement on terms. EADS is not including the Laupheim site, for which it is also drawing up a shortlist of prospective investors, in the holding company because Laupheim's product line is substantially different from those of the other facilities. Separately, EADS has expanded its North American business with the $350 million acquisition of California-based call management and radio dispatch products manufacturer PlantCML from private equity company Golden Gate Capital. EADS has a stated strategic ambition of acquiring businesses in North America to reduce the impact on profits of a volatile dollar-euro exchange rate.
US Aerospace Trade Balance Sets Record
The US aerospace industry's trade balance reached a record $60.4 billion for 2007, according to the Aerospace Industries Association. Exports soared to almost $97 billion in 2007, up nearly 14% compared with 2006 civil aircraft exports accounted for almost 50% of the total, while military-related exports accounted for almost $13 billion. Imports of aerospace products increased to $36.5 billion in 2007, up from $30.5 billion in 2006. One-third of that growth was related to commercial transport aircraft and increased imports of regional jets.
Australia Engine JV For Lufthansa And Qantas
Lufthansa Technik is to acquire a 50% shareholding in Qantas Airways' engine overhaul division Jet Turbine Services. The deal, terms of which have yet to be disclosed, will create a powerplant engineering joint venture in Australia. Jet Turbine Services' facilities are located in Tullamarine, near Melbourne Airport. Qantas has a separate Rolls-Royce engine overhaul centre in Sydney.
Doncasters Expands Wales Components Plant
Aerospace and industrial gas turbine components manufacturer Doncasters is investing £16 million ($32 million) to expand the capabilities of its Blaenavon plant in Wales, creating 125 new skilled jobs and bringing in-house post-cast processing work that was previously subcontracted to a specialist supplier. Another £4 million is being invested to develop an engine-ready components strategy. The company has annual sales of around £900 million.
Cobham To Create "Centre Of Excellence"
Cobham will merge its Chelton Flight Systems business with S-TEC, which it acquired at the beginning of 2008, to create an avionics centre of excellence in Mineral Wells, Texas in a bid to develop a fully integrated cockpit. The two businesses have certificated equipment and systems on some 2,000 fixed and rotary-wing aircraft models for the general and business aviation markets.
Australia's Rex To Own 100% Of Flying School
Australian regional carrier Regional Express is to take full ownership of the pilot training school it established late last year as a joint venture with Mangalore Airport, where the school is based. Rex operates 37 Saab 340s and has a shortage of pilots.
Source: Flight International
