EADS To Announce Further Restructuring In December Before Rebranding Takes Effect In 2014

  • Bindiya Thomas
  • 12:53 PM, December 2, 2013
  • 4272
EADS To Announce Further Restructuring In December Before Rebranding Takes Effect In 2014
EADS To Announce Further Restructuring In December Before Rebranding Takes Effect In 2014.

EADS is expected to make further announcements regarding the name change and restructuring in mid-December, according to a senior executive told Defenseworld.net.

In July, the company said it would be renaming itself after its flagship, the Airbus Group, with three subsidiaries; commercial aircraft, defense and aerospace and helicopters.  

Since the announcement, EADS stocks have soared upto 82 percent this year. The company won orders and commitments worth $44 billion at the Dubai Air Show last month.

The order intake includes 142 firm orders worth US$40.4 billion (50 A380, 40 A350-900, 10 A350-1000, 26 A321neo, 10 A320neo and 6 A330-200F) and 18 Memorandum of Understanding worth US$3.6 billion.

The success in Dubai comes at the heels of the Paris Air Show where Airbus received firm orders for 241 aircraft.

"The renaming simply gathers the entire company under the best brand we have, one that stands for internationalisation, innovation and integration - and also for some two-thirds of our revenues," said EADS chief executive Tom Enders. "It reinforces the message that 'we make things fly'."

The re-branding is a a reversal from its previous plan to create, in association with BAE, a conglomerate evenly balanced between commercial and defence operations.

The German and French governments each hold 12 percent of EADS shares and Spain 4 percent. According to reports, Enders plans have been augmented after the three states annulled certain veto and board nomination rights.

His efforts have already been boosted by the three states giving up certain veto and board nomination rights.

Enders added the reorganisation, which will begin at the start of next year, would enable EADS to “take costs out, increase profitability and improve our market position”. 

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