Tuesday, November 20, 2012

Report: EADS accord near

France and Germany are discussing a compromise in the ownership split of Airbus parent EADS. According to Reuters, each country would hold around 12 percent of the aircraft maker, people familiar with the matter said. Spain would retain 5.5 percent. Problems in the complex ownership structure came to light during the failed attempt to merge EADS and the UK's BAE Systems, a $45 billion merger that would have created the world's largest aerospace and defense conglomerate. (Source: Reuters, 11/20/12) Gulf Coast note: Airbus is building a $600 million A320 assembly line at Brookley Aeroplex in Mobile, Ala., that will employ about 1,000 people.