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EADS Plans Acquisition Spree

by Ulrika Lomas,, Brussels

12 August 2011

Airbus's parent company, European aerospace giant EADS, has announced that it will look to acquire companies engaged in aviation-related activities, particularly in the military and security sphere, to achieve US sales targets by 2020.

EADS Chief Financial Officer, Hans-Peter Ring said the group is examining its options to expand non-Airbus sales. The group is looking to more than double the USD4.7bn revenue generated from the US market during 2010, to USD10bn in 2020. Reportedly, EADS has USD11bn in cash at its disposal.

Ring said that while the company is looking to expand through organic growth, it is unlikely to meet its target without further acquisitions. In the last 30 days, EADS has closed at least three significant acquisitions, all of under USD1bn in value.

EADS is seeking to following Boeing in attempting to establish a greater market share of services and military aviation to establish a more stable, less cyclical, revenue base at a time when trading conditions for the commercial aircraft sector are tough.

Airbus has been unsuccessful recently in securing military deals in the US. A recent and significant blow occurred when the US government adopted a controversial decision to switch a procurement contract to local producer Boeing for US Air Force refueling tankers in a deal worth USD35bn.

TAGS: aviation

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