European Commission Gives Astrium Conditional Approval

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European Commission Gives Astrium Conditional Approval

The European Commission gave conditional approval on March 21 to the Astrium satellite joint venture between Matra Marconi Space and DaimlerChyrsler's aerospace unit DASA. Matra Marconi Space will sell off its mechanical wheels operations to ease competition concerns regarding the venture. DASA will also grant licenses for the manufacture and sale of various equipment products supplied by DASA to Alcatel Space Industries. Astrium is expected to become Europe's largest space group, with sales of Euro 2.25 billion (US$2.4 billion) and a workforce for more than 8,000.

The Astrium merger paves the way for the planned merger of the overall activities of Aerospatiale Matra, CASA and DaimlerChrysler Aerospace into the European Aeronautic Defence and Space Company (EADS). EADS will hold a 75 percent share in Astrium. The Merger Task Force of the European Commission is still studying the EADS merger and has determined that it needs additional information given the broad scope of activities covered by the merger. The EADS shareholders responded immediately to the request from the European Commission and submitted the required information.

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March 27, 2000

Andrews Space & Technology