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Electronics Production | October 10, 2008

Daher-Socata association plan approved by the WCs

As part of the exclusive negotiations held between the Daher group and EADS for the acquisition of a majority interest by Daher in EADS Socata, EADS has announced that the Central Councils and Works Councils of the three entities have all voted in favour of the acquisition.
Establishing links between Daher and EADS Socata should lead to the creation of a major player in Aerostructures, Business Aviation and Services, and give rise to the development of joint projects in these three areas, particularly on the A350 for which Socata will be a tier-one partner.

“With Daher, Socata has found a solid partner. This opens up new prospects of development. It will obviously remain a major supplier for EADS, namely on the A350 programme,” said Louis Gallois, CEO of EADS. “We are today delighted that the great majority of EADS France and EADS Socata staff representatives have understood and support the initiative.”

“Having the backing of Daher and Socata’s personnel brings recognition of the appropriateness of our development strategy. That’s why it was so important for the staff to fully understand our proposal and join in our plans,” said Patrick Daher, Chairman and CEO of the Daher Group.

This move is also in line with Daher’s strategic plan, Ambition 2012, which seeks to position Daher as a tier-one equipment manufacturer in four sectors (aeronautics, defence, nuclear and automotive) via its three business lines (industrial production, service and transport).

The exclusive negotiations between EADS and Daher are taking their course and should soon be finalised.
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