At its first board meeting on June 11, Aerospatiale Matra's new supremo, chairman Jean-Luc Lagardere, said he planned to weld the new French aerospace giant's very different constituents - former state-owned Aerospatiale and private sector Matra Hautes Technologies - into a powerful driving force within a restructured European sector. But he conceded that bringing these two very different cultures under one roof will be "a major problem."

The success of Matra's former parent Lagardere is "based on a fierce independence, a private sector culture in pursuit of technical performance, financial success and quality; and the loyalty and risk-taking of its partners," he said. While Aerospatiale was a privileged arm of state in pursuit of national sovereignty, he added, its successes had included "the Caravelle, Concorde, the Airbus structure, Ariane and the (French) nuclear capability (force de frappe). In short, innovations which became the keystones of European aerospace and defence. But we have to recognise commercial viability was not at the heart of these programmes.

Alliance

" I have accepted the merger with Aerospatiale because it represents an alliance of shareholders who define my responsibilities and which satisfies me fully. The privatisation of Aerospatiale was politically courageous and, in this regard, I must congratulate the prime minister and his cabinet. It was necessary in regard to our European partners," he added. Lagardere said he had no problem today with the state's retention of a 47 per cent stake in the new combine.

The new chairman said Dassault - where he began his career nearly 50 years ago - and Lagardere were diametrically opposed in strategic terms. "I have been a European player since it all began some 30 years ago. Dassault Aviation, on the other hand, preferred to develop its exceptional aircraft - the Mystere, Mirage and Rafale - on its own which became synonymous with France. Today, chairman Serge Dassault has two shareholders - the Dassault family and Aerospatiale Matra. We'll progress together and help him to turn the European corner. "

Source: Flight Daily News