OHB Technology AG chosen as preferred bidder for the three German Airbus factories
OHB Technology, Bremen, and MT Aerospace AG, which belongs to them, are preferred bidders for further sales negotiations regarding the German Airbus factories Varel, Nordenham and Augsburg
Transaction closure planned in H1 2008
Marco Fuchs, OHB Technology CEO: “The intended purchase of the German Airbus factories is an important milestone for our company and a clear signal for Germany as a prime location for technology and innovation.”
At their meeting today the Board of Directors of EADS chose OHB Technology and its majority-owned subsidiary MT Aerospace as preferred bidder for the three German Airbus factories Varel, Nordenham and Augsburg, currently employing a workforce of around 6,000. Transaction closure is planned in the first half year of 2008. OHB Technology AG intends to acquire the factories jointly with a financial investor.
The EADS Board of Directors reached the decision unanimously. Marco Fuchs, OHB Technology CEO: “The intended purchase of the German Airbus factories is an important milestone for our company and a clear signal for Germany as prime location for technology and innovation. We are very happy that we were able to gain the confidence of the EADS management.”
“The support from Berlin was helpful and made it easier for us to take the decision. With the current solution, the technology developed in Germany remains within the country. This is especially important for the development and construction of important parts for the new Airbus A 350 XWB” says Hans J. Steininger, CEO of MT Aerospace AG.
The targeted acquisition of the factories is intended to further strengthen aviation business at OHB Technology and MT Aerospace AG who are already suppliers for Airbus and see themselves as the optimum partners for the three aviation locations at Varel, Nordenham and Augsburg. Large, complex aircraft parts such as the Airbus fuselage are manufactured in the two factories at Varel and Nordenham. In Augsburg, in addition to manufacturing, the development is located of complex structural components for the aircraft in the areas of metals and composites, such as for the A 400 M. MT Aerospace is also already involved in both programs. Hans J. Steininger: “The knowledge and skills of OHB Technology and MT Aerospace combined with the three German Aerospace factories form the ideal starting point for a new supply company in Germany that will become a first tier supplier for the Aeronautical industry. We want to create a innovation and technology leader with awesome potential, also by global standards.”