Integration of LFK into MBDA successfully completed
* Approval received from European Commission and German Government
* Decisive step towards full consolidation of the European missiles industry
Munich, 01 March 2006
The integration of LFK GmbH into the European missile systems group MBDA has received clearance from the European Commission and the German Ministry of Economics and Technology on Tuesday, according to EADS and MBDA. The legal formalities allowing this operation have been successfully completed. MBDA's new German component will keep the LFK GmbH legal name and will act under the brand of MBDA with an integrated structure, principles of operation and process mirroring that of MBDA while addressing Europe's third largest missile market, Germany.
Dr. Stefan Zoller, Member of the EADS Executive Committee and CEO of Defence & Security Systems, said, "Integrating LFK into MBDA is a further step in the consolidation of the European missile industry, a process initiated by the creation of MBDA in 2001 by the missile group's three shareholders, BAE Systems, EADS and Finmeccanica. The German customer now has the base to preserve the national core competencies in missiles while gaining access to the full scope of European competencies in this area."
MBDA CEO Marwan Lahoud said, "We are happy to welcome our long awaited German colleagues and to consolidate our position of number One worldwide by becoming a group of 11,000 employees with locations across Europe. The German part of MBDA will have an essential role on the future developments of programmes and bring its skills and excellence to the group, for the benefit of European technological and military capacities."
Werner Kaltenegger, Managing Director of LFK, commented, "The integration of LFK into MBDA offers Germany ideal structures for international cooperation programmes and strengthens our position in transatlantic cooperation - while at the same time maintaining the possibility to realize 'German Eyes Only' programmes. Furthermore LFK will enlarge its access to outstanding technologies and export markets."
LFK is the leading missile systems house in Germany and achieves together with its subsidiary companies (TDW, Taurus Systems, Ramsys, euroMEADS, Comlog, GLVS, RTG, EMDG and Euromissile) with approximately 1,100 employees an annual turnover of approximately €400 million. Main programmes of LFK are MEADS, PATRIOT, Taurus KEPD 350, RAM and LR TRIGAT.
With an annual turnover exceeding € 3 billion, a forward order book of over € 13 billion and over 70 customers world wide, MBDA is a world leading, global missile systems company. MBDA currently has 45 missile system and countermeasure programmes in operational service and has proven its ability as prime contractor to head major multi-national projects. MBDA is jointly owned by BAE Systems (37.5%), EADS (37.5%) and Finmeccanica (25%).
EADS Defence & Security Systems, with revenues of about € 5.4 billion in 2004 and roughly 23,000 employees across ten nations, forms the defence pillar within EADS. It offers integrated systems solutions to the new challenges confronting armed forces and homeland security units. It is active in the areas of military aircraft, missile systems, Intelligence, Surveillance and Reconnaissance (ISR) systems with manned and unmanned aerial vehicles (UAVs), battlefield management systems, defence electronics, sensors and avionics, and related services.
EADS is a global leader in aerospace, defence and related services. In 2004, EADS generated revenues of € 31.8 billion and employed a workforce of about 110,000.
Your contact:
Alexander Reinhardt
Munich
Germany
Tel.: +49 (0) 89 607 34862
mailto: alexander.reinhardt@eads.com
Wolfram Lautner
Munich
Germany
Tel.: +49 (0) 89 3179 2549
mailto: wolfram.lautner@eads.com
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