EADS to sell plants to Latecoere, MT Aerospace and GKN

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Airbus parent EADS has selected France’s Latecoere, Germany’s MT Aerospace and the UK’s GKN as the preferred bidders for divestment of six manufacturing sites.

Latecoere has been chosen for the French sites at Meaulte and St Nazaire Ville. MT Aerospace has been chosen for the German plants at Nordenham, Varel and Augsburg.

Arrangements for these French and German sites will take the form of joint ventures, says EADS, with Airbus retaining a “substantial” minority shareholding and an option to withdraw completely after three years.

GKN is the successful bidder for the UK facility at Filton. The Filton selection allows for an outright sale of the manufacturing section to GKN.

EADS’ board has authorised the management of EADS and Airbus to enter negotiations with these bidders to settle remaining issues, with a view to achieving final agreements as soon as possible.