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Final agreement between EADS and the Daher group for Daher to take a majority interest in EADS Socata.

Daher and EADS today announced the conclusion of the agreement for Daher to acquire a 70% majority share in EADS Socata.

Paris,, 03  November  2008 "This Daher-Socata association will allow the creation of a leading European industrial player in the domain of aerostructures and open up new development prospects in general aviation, including for the new Socata aircraft project", declared Jean-Michel Léonard, CEO of EADS Socata.

"Today we salute the success of this association, the result of more than a year's work between the management teams of the two companies to form a major player in Aerostructures, Business Aviation and Services", commented Louis Gallois, CEO of EADS, after the signing of the agreement was announced. "It is also a great satisfaction to have had the support of the majority of the social partners, the Works Councils of Socata and Daher, the Central Council of EADS France, and the personnel and management of Socata, who have clearly understood the strategic importance for the future of the company."

Before the acquisition takes effect, it must be submitted to the approval of the competent competition authorities.

Press release issued by Daher on November 3, 2008

 

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Daher Group Subcontracted Composite Parts, Superalloys, Carbon-reinforced Composites, Composite Structures, Composite Stamping, Thermoplastics
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