EADS INTEGRATES U.S. ACTIVITIES INTO EADS NORTH AMERICA
Key Leadership Roles Announced in New Holding Company
Washington D.C., 25 April 2003
EADS, the world’s second largest aerospace and defense company, announced on Friday the formation of EADS North America and integration of the Company’s wholly owned U.S. operating units into EADS North America, headquartered in Washington, D.C. Ralph Crosby, Chairman and CEO of EADS North America, and member of the EADS Executive Committee, will oversee the activities of this new entity. EADS North America also announced the appointment of its CFO, Chris Emerson, and its General Counsel, Pierre Cardin, in a press breakfast Friday.
“This is an important step for EADS as a global aerospace and defense leader,” said Philippe Camus and Rainer Hertrich, CEOs of EADS. “EADS North America serves as the platform for our company to continue investing in the United States, contributing to the U.S. industrial base, and reaching our customers more effectively as a North American provider of advanced systems and services.”
EADS North America will be comprised of nine operating units:
* American Eurocopter Corporation, with headquarters in Grand Prairie, Texas, a market leader in rotary-wing aviation
* Astrium North America in Houston, Texas, the home of EADS space activities in the United States
* Barfield, Inc., headquartered in Miami, Florida, providing avionics and aircraft system repair and maintenance
* EADS Aeroframe Services, in Lake Charles, Louisiana, a maintenance, repair, and overhaul facility for large commercial passenger and freight aircraft
* EADS CASA Aircraft USA, in Chantilly, Virginia, which markets and supports EADS CASA aircraft
* EADS Socata Aircraft, in Pembroke Pines, Florida, the sales and support headquarters for Socata corporate and leisure aircraft
* EADS Supply and Services, in Rockville, Maryland serves as purchasing agent in the United States for EADS divisions and business units
* EADS Telecom North America, headquartered in Addison, Texas, offering advanced telecommunications solutions for the private sector and homeland security markets
* Fairchild Controls Corporation, in Frederick, Maryland, designer and manufacturer of air turbine drives and environmental controls for military and commercial applications
* TYX, headquartered in Reston, Virginia and its subsidiaries ARC and ARC-IAI, providing electronics testing solutions and network security
The formation of these transfers will all be complete by the end of the second quarter of 2003.
The pro-forma consolidated revenues of EADS North America, based on 2002 activities, would have been $529 million. 2003 revenues are expected to increase about 10%.
“I am very proud to announce the formation of EADS North America. We will now integrate the collective expertise of our businesses into a streamlined effort to service our current customers, build our North American businesses, and bring maximum value to shareholders,” said Ralph Crosby, Chairman and CEO of EADS North America and member of the EADS Executive Committee. “It also establishes the base upon which we will expand our investment in U.S. facilities in the commercial and defense aerospace sectors.”
Chris Emerson, the newly appointed CFO and Vice President of Investor Relations, will be responsible for the financial management of the new U.S. entity, including: accounting, treasury, capital markets and merger and acquisition activity for the company. Respectively, Mr. Cardin, who as General Counsel, will be responsible for the legal affairs for the group’s businesses in the U.S. Mr. Cardin will support the expansion of these businesses both organically and through acquisition, as well as coordinate legal matters with EADS in Europe.
“I am delighted to have Chris and Pierre join the EADS North America team. Both Chris and Pierre bring many years of experience in the aerospace and defense fields. I look forward to their contributions to our mission of making EADS North America the leading provider of defense solutions in America,” commented Ralph Crosby.
About EADS North America
EADS North America is the holding company for the North American activities of EADS, one of the world’s largest aerospace and defense companies. As a leader in all sectors of the defense and aerospace markets, EADS North America and its parent company, EADS contributes over $6 billion to the U.S. annually. With nine operating units and investments in 5 states and the District of Columbia, EADS North America offers a broad array of advanced solutions to its customers in the commercial, homeland security and defense agencies across the U.S. To learn more, please visit the EADS North America website at: www.northamerica.eads.net.
Contact:
Dr. Rainer Ohler
EADS Corporate Communications
Munich, Germany
Tel: +49 89 60 73 4235
Anne Collette
EADS North America
Washington, D.C.
Tel: (202) 776-0988
Lawrence Stein
AGG International
Washington, D.C.
Tel: (202) 223-5007
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