EADS reaffirms its commitment to modernize Bulgaria's MiG-29 fleet
Munich/Sofia, 22 January 2002
EADS European Aeronautic Defence and Space Company, Europe's Number One and the second-largest aerospace enterprise in the world, participates in the bid for the modernisation of the Bulgarian Air Force's (BAF) MiG-29 fleet. On January 21, 2002, EADS through its Military Aircraft business unit repeated a formal proposal to restore the operational flying capabilities of the Nation's MiG-29 combat aircraft, including their modernisation. The EADS proposal responds to the requirements issued by the Bulgarian Ministry of Defense.
The proposal follows intensive efforts and reinvestment of EADS in Bulgaria on this subject since August 1999, resulting already in extensive working contacts and flow of expert information between Bulgaria, Germany and Russia, and enjoys also the support of the governments concerned. The political decision of the Bulgarian government made in September 2001 to invest into the existing MiG-29 fleet was a necessary clear and positive sign, allowing EADS practical steps to enter into the Bulgarian market.
EADS as a principal shareholder in the MAPS consortium (MiG Aircraft Prosuct Support GmbH) together with RSK MiG and Rosoboronexport of Russia is exclusively guaranteeing through MAPS all product support and industrial management for the successful MiG-29 operation within the German Air Force, which is currently the only MiG-29 fleet fully integrated into NATO's air defense system.
The EADS participation in the BAF's MiG-29 program offers the Bulgarian aviation industry to enter the gateway to Europe's high-revenue aerospace indsutry and to develop a prospective partnership not only in the military field but also in the commercial sector. In the EADS proposal introduced to the Bulgarian authorities, all actual work on the MiG-29 would be performed in the TEREM factory 'G. Benkovsky' in Plovdiv, and the German know how is to be transferred to the Bulgarian experts in order to achieve additional synergies, i.e., to further develop the national industrial basis and to generate additional employment.
With revenues amounting to EUR 24.2 billion and a workforce of 100,000, EADS European Aeronautic Defence and Space Company is the largest European aerospace company and the No 2 worldwide. It is active in the sectors of commercial aircraft, helicopters, space, military transport and combat aircraft as well as defence technology and services. Among others, EADS holds 80 percent of Airbus, 75 per cent of the space company Astrium, 100 percent of the helicopter manufacturer Eurocopter, 43 percent in the Eurofighter programme and 37,5 percent in the missile company MBDA.
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