Airbus Defense and Space sheds subsidiaries, focusing on core business
On Tuesday, Airbus Group announced it would sell its Defense and Space unit together with a host of subsidiaries and stakes in other companies.
September 16, 2014
The move follows a decision to slimmer down the company, allowing it to concentrate on space and defense activities.
Airbus Defense and Space performed a strategy review in 2013 when it looked at its core business activities, and decided it will focus on space, missiles and related systems. The company will invest heavily in these activities.
An Airbus representative explained the decision as an opportunity for commercial and para-public communications business, mobile radio, and satellite communications to grow successfully in different structures after separating from Airbus.
Some of the subsidiaries up for sale include Fairchild Controls, Rostock System-Technik, AvDef, ESG, and Atlas Elektronik.
With an annual revenue of 14 billion Euros ($18.1 billion) Airbus Defense and Space employs more than 40,000 people, according to Airbus.