Regions

EADS exec says company in no hurry to enter fresh M&A deals

September 10
11:38 AM 2013

The European Aeronautic Defence and Space Company (EADS) said the company would be making adjustments to its portfolio when it would consolidate its activities into one division. However, it would be taking its time on making fresh M&A (mergers and acquisitions) deals. This was what EADS Chief Strategy and Marketing Officer Marwan Lahoud told Reporters on Tuesday.

"There could be disposals and acquisitions as part of the move to a single defense-space division... But we have to give it time and let the new team establish itself. After that we will announce a few things," he said.

Earlier in July, EADS said it would be putting its defense and space subsidiaries into one division. The firm also said it would be changing the name of the group to Airbus after its airplane brand. The restructuring was set for completion in July next year.

Lahoud also said that EADS would still be aiming to surpass its main competitor Boeing. However, he said EADS would have to concentrate in its commercial aerospace business. "Our aim is to be the number one in aerospace in the world. There is no point in pretending; the development and growth are on the civil side," he said.

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