11 Jan 2005
Amsterdam/London, 11 January 2005 - EADS CEOs Philippe Camus and Rainer Hertrich and BAE Systems CEO Mike Turner welcomed the announcement by European Trade Commissioner Peter Mandelson to have agreed with the US to proceed with negotiations on a new agreement for government funding for aviation programmes.
“We are delighted at this apparent breakthrough in the transatlantic discussions. It has always been preferable that any differences between the US and Europe on this matter be overcome through constructive discussion rather than through legal recourse. Todays decision is a very positive step forward but much work remains to be done in order to ensure a level playing field in the commercial aircraft market. It is a substantial endorsement of the European Union's negotiating team led by Mr. Mandelson. It is clearly in all parties' interests to find a robust and workable agreement for the long-term future of this crucial industry. EADS and BAE Systems are firm advocates of free and open competition in the aerospace and defence markets around the world, and we will do everything that we can to support the full resolution of outstanding issues on this matter over the coming months.”
About BAE SYSTEMS
BAE Systems is an international company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land, at sea and in space. The company designs, manufactures and supports military aircraft, surface ships, submarines, fighting vehicles, radar, avionics, communications, electronics and guided weapon systems and has a 20 percent share in Airbus SAS. It is a pioneer in technology with a heritage stretching back hundreds of years. It is at the forefront of innovation, working to develop the next generation of intelligent defence systems. BAE Systems has major operations across five continents and customers in some 130 countries. The company has more than 90,000 people and generates annual sales of approximately 12 billion through its wholly-owned and joint venture operations.
About EADS
EADS is a global leader in aerospace, defence and related services. In 2003, EADS generated revenues of 30.1 billion. The EADS Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and the joint venture MBDA, the second largest missile producer in the global market. EADS is the major partner in the Eurofighter consortium, is the prime contractor for the Ariane launcher, develops the A400M military transport aircraft and is the largest industrial partner for the European satellite navigation system Galileo.
Contacts for the media
Patrice Kreis EADS +33 1 42 24 20 63
Rainer Ohler EADS +49 89 60 73 42 35
Miguel Sanchez EADS +34 91 5 85 77 88
Charlotte Lambkin, Group Communications Director, BAE Systems +44 12 52 38 38 36
Richard Coltart, Head of News, BAE Systems +44 12 52 38 48 75
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