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Aviation History
2004
2004-09 - 1995.PDF
m BUSINESS CAE OFFICER QUITS CAE chief financial officer Paul Renaud has resigned from the Canadian simulator manufac turer to take a similar position with a C$34 billion ($27 billion) Ontario pension fund. Robert Brown, who took over as CAE's chief executive last month, says the search for his successor is underway. SCHWEIZER BOUGHT Sikorsky has completed its acquisition of Schweizer Aircraft, boosting its presence in the unmanned air vehicle market as well as adding light helicopters and fixed-wing surveillance air craft to its portfolio. Elmira, New York-based Schweizer will oper ate as a wholly owned subsidiary of Sikorsky. RUSSIANS UNITE Five Russian space companies are forming a joint space holding enterprise, which will include other smaller national compa nies, to strengthen the competitiveness of the country's space business. Energomash will integrate state-owned enter prises including Voronezh, Isayev and Fakel Research. SNECMA PURCHASE Snecma has acquired the assets of Gespac Integration, a Moroccan company specialised in the manufacturing of electric wiring, via its Labinal subsidiary. The company is located in Temara, close to Rabat, and employs 200 people. Snecma says the acquisition will enable Labinal to meet the significant increase in requirements expected by its aircraft manufac turer clients as early as 2005. The move also develops Snecma's operations in Morocco, where the group already has a partnership with Royal Air Maroc for services (Snecma Morocco Engine Services) and aircraft wiring (Matis Aerospace). ELESCO STAKE Sweden's Saab has acquired a 49% holding in Finnish defence technologies and systems inte gration company Elesco, and says it is likely to purchase the remaining shares. ACQUISITION EADS takes over Racal in first major US purchase Instrument manufacturer kicks off "growth through acguisition" strategy In its first major US purchase, EADS North America has bought precision instrument manufac turer Racal Instruments. The deal marks the beginning of EADS's stated policy of "growth through acquisition" and will see the US arm of EADS pay $105 million cash, plus up to $25 million for guaranteed future bookings up to mid-2005. EADS North America chairman Ralph Crosby says the acquisition "brings on board a market leader in the integrated test business in the USA and adds materially to our crit ical mass as a leading global test and services company". The deal also provides access to the US Taylor: pleased with EADS deal Department of Defense and poten tially lucrative military contracts and follows the creation this month of EADS North America Defense, which is aimed at improving the potential for US military business. The US arm of Racal Instalments will be incorporated into the new company, the rest becoming part of EADS Test and Services in the Defence and Security Systems division of EADS. Racal „ Instruments is expected to turn % over around $84 million in 2004. g Gordon Taylor, Racal 1 Instruments chief executive, says 3 joining EADS "will support our move towards common auto mated test equipment, across a broader base of programmes". The deal will, he says, "make us better able to serve our military customers who require classified instrumenta tion test equipment". SUBSIDIES BRIAN DUNN / OTTAWA Canada to increase aid In what is likely to be a controver sial move, the Canadian govern ment plans to increase state aid to its domestic aerospace industry. An announcement is expected this year and will be the first sign Ottawa is paying attention to repeated calls by Bombardier to increase aid to the sector. Bombardier has come under heavy criticism from several corners, including opposition members of parliament, for being one of the biggest recipients of government aid over the past 20 years, includ ing tax credits, research and devel opment funds and loan guarantees to purchasers of its aircraft. The Canadian industry employs about 79,000 workers. Bombardier says it needs Ottawa to pump in one-third of the C$2.5 billion ($2 billion) development costs for its planned 110- to 135-seat aircraft or it will be forced to manufacture them elsewhere. Meanwhile, Canada and Brazil are to resume talks in mid-October over the sensi tive issue of subsidies to Bombardier and Embraer respectively. The countries have been negoti ating since early 2003, but have not met formally since August. Both have taken their complaints about claimed subsidies provided to the other to the World Trade Organi sation several times. Neither has launched trade retaliation, although they have the right to do so. • Air Canada's emergence from bankruptcy protection has promp ted the Canadian minister of trans port to ask his department to pre pare a "green paper" on the liberalisation of air travel with the USA, to be presented to the cabinet this month. Air Canada emerged from bankruptcy protection on 30 September and analysts say the car rier is in a good position to com pete against US rivals, many of which are struggling financially. Canada and the USA reached an open skies agreement a decade ago, but did not provide for cabotage. The minister is also open to the idea of lifting foreign ownership restrictions on Canadian airlines and reducing the fees airports have to pay to Ottawa. SALE Saviours line up to rescue Letecke More than 10 companies are interested in purchasing Letecke zavody Kunovice or at least some parts of it, says the official receiver of the bankrupt Czech Republic aircraft manufacturer. The receiver, Miroslav Sladek, says the potential purchasers are from Canada, the Czech Republic, Italy, Slovakia and the USA. "We are preparing the ten der, but it has not yet been decided when it will be declared," he adds. Most of the interest is in the assets and rights of the com pany's L-410 twin-engined commuter. Representatives of Letecke zavody are holding talks with Rekkof Aircraft about restarting Fokker 70 and 100 production, although the talks are understood to be stalled while the sale is negotiated. Letecke zavody was declared insolvent in June Flight International, 29 June-5 July). 28 12-18 OCTOBER 2004 FLIGHT INTERNATIONAL www.fliqhtinternational.com
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