EADS Opens For Business

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EADS Opens For Business

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The European Aeronautic, Defense and Space Co. (EADS) formally opened for business on July 10. EADS was formed from the merger of Aerospatiale Matra, DaimlerChrysler Aerospace AG (DASA) and Construcciones Aeronautics SA (CASA). EADS owns 75% of satellite manufacturer Astrium, and 25% of Arianespace. EADS business units posted US$2.39 billion (EURO 2.52 billion) in sales in 1999.

EADS is expecting to see growth in the markets for satellite navigation, construction of large telecommunications satellites, and spacecraft for Europe’s military services. EADS does not view the services sector as core to its business, but does acknowledge that services is where growth opportunities exist. The company does not expect to enter the satellite services sector by purchasing an existing satellite operator. Rather, the company plans to enter new markets and them evolve them into a broader service offering.

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July 17, 2000