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  • EADS to Go on Spending Spree in 2011?
    Posted by Christina Mackenzie 8:10 PM on Jan 12, 2011

    Louis Gallois, CEO of EADS, told a gathering of some 100 journalists today during the group's annual ceremony of “New Year Greetings” that the group wants a better balance between the Airbus civilian aircraft sector, which accounts for about two thirds of its business, and its others business units: Cassidian for defense and security; Astrium – which was hosting the gathering – for space, and Eurocopter for helicopters. “But the task is made difficult by the success of Airbus (which yesterday secured the largest aircraft order in commercial aviation industry from Indian low-cost carrier IndiGo for 180 aircraft), although of course I'm not complaining about this,” he smiled.

    He stressed that in order to balance business “our company must dramatically increase its footprint in emerging countries and become a local citizen... there are skilled employees in these countries: we need them.” But he said that in order to sell in these countries “we need to have a partner there.” This statement combined with the fact that EADS holds net cash of about €10.3 billion which Chief Financial Officer Hans Peter Ring agreed needed to be spent, would seem to point to EADS going on a spending spree in 2011.

    Tags: ar99, EADS

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