Joint Press Statement by EADS and BAE SYSTEMS
EADS and BAE SYSTEMS Complete Airbus Integration - Airbus SAS Formally Established
Amsterdam/London, 12 July 2001
EADS European Aeronautic Defence and Space Company and BAE SYSTEMS completed the legal and tax procedures on Wednesday to make the fully integrated Airbus company a formal legal entity. The new entity is named Airbus. It is incorporated under French law as an SAS (Société par Action Simplifiée) and based in Toulouse. Airbus has operations in France, Germany, Great Britain and Spain as well as subsidiaries in China, Japan and North America.
Airbus has been operating as a fully integrated company since January of this year. Its two shareholders, EADS and BAE SYSTEMS, announced at that time that all contractual conditions required for the integration of the Airbus activities of both partners were fulfilled and agreement on common decisions had been reached, including the future Airbus business plan.
EADS and BAE SYSTEMS have been working closely together in the last months developing solutions to the challenging issues that came with such a unique trans-European move. More than 30 years of successful cooperation has now lead to the full integration of industrial structures in four European countries.
EADS and BAE SYSTEMS have already jointly implemented the new integrated Airbus top management structure. The shareholder committee with five appointees from EADS and two from BAE SYSTEMS is chaired by EADS CEO Rainer Hertrich.
Noël Forgeard is the CEO of Airbus. He heads an Executive Committee of ten persons with Gustav Humbert as COO.
Airbus is an EADS joint company with BAE Systems. EADS owns 80 percent and BAE Systems 20 percent of the shares. Airbus recorded revenues in 2000 of $17 billion. In the same year, Airbus delivered 311 aircraft. There is currently an order backlog of more than 1,700 aircraft, exceeding that of the competition. Airbus employs some 44,000 people in France, Germany, Spain and the United Kingdom. Airbus is consolidated 100 percent into EADS.
| Contacts | |
| BAE Systems | |
| Mike Peters | +44.12.52.38.35.19 |
| EADS | |
| Rainer Ohler | +49 89 607 34235 |
| Miguel Sanchez | +34 91 585 77 89 |
| Roland Sanguinetti | +33 1 42 24 24 26 |
