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EADS Defence plans new industrial base in India | Reuters
EADS Defence plans new industrial base in India
Tue Jan 13, 2009 7:01pm IST
NEWPORT, Wales, Jan 13 (Reuters) - EADS' (EAD.PA: Quote, Profile, Research) defence unit is set to announce a new operation in India, possibly via an acquisition, as it targets further expansion overseas, a senior company executive said on Tuesday.
"We are preparing to set up an industrial base in India -- we have a dedicated team working on it," the French group's defence and security chief Stefan Zoller told reporters, adding that the group was in advanced talks.
"The most booming market for defence that has not already been captured is India ... also there are many skilled engineers in India," he said.
Zoller was speaking on the sidelines of the annual EADS press conference, held at one of the group's manufacturing centres in Britain. [ID:nLD182163]
He also said he expected to deliver the full quota of Eurofighter planes to countries which had placed orders, despite an effort by the UK and Italy to renegotiate the final tranche of 88 planes.
Britain, Italy, Germany and Spain originally agreed to take 620 fighter planes in three stages.
Zoller said he wanted a deal secured by the end of the first quarter of 2009 and expected it to involve the delivery of half the planes now and half later.
"The industry understands it must expect (just) half now, but it can't accept that the overall order for 620 planes will be compromised," he said. (Reporting by John Bowker and Tim Hepher; Editing by David Holmes)
EADS Defence plans new industrial base in India | Reuters
EADS Defence plans new industrial base in India
Tue Jan 13, 2009 7:01pm IST
NEWPORT, Wales, Jan 13 (Reuters) - EADS' (EAD.PA: Quote, Profile, Research) defence unit is set to announce a new operation in India, possibly via an acquisition, as it targets further expansion overseas, a senior company executive said on Tuesday.
"We are preparing to set up an industrial base in India -- we have a dedicated team working on it," the French group's defence and security chief Stefan Zoller told reporters, adding that the group was in advanced talks.
"The most booming market for defence that has not already been captured is India ... also there are many skilled engineers in India," he said.
Zoller was speaking on the sidelines of the annual EADS press conference, held at one of the group's manufacturing centres in Britain. [ID:nLD182163]
He also said he expected to deliver the full quota of Eurofighter planes to countries which had placed orders, despite an effort by the UK and Italy to renegotiate the final tranche of 88 planes.
Britain, Italy, Germany and Spain originally agreed to take 620 fighter planes in three stages.
Zoller said he wanted a deal secured by the end of the first quarter of 2009 and expected it to involve the delivery of half the planes now and half later.
"The industry understands it must expect (just) half now, but it can't accept that the overall order for 620 planes will be compromised," he said. (Reporting by John Bowker and Tim Hepher; Editing by David Holmes)