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EADS seeking more acquisitions to boost sales

The aeronautical firm EADS wants to carry out more acquisitions to boost its sales potential.

12 August 2011

European aerospace group EADS may be looking to use merger and acquisition consultants.

This is because chief financial officer with the company Hans-Peter Ring noted it cannot make its sales targets for 2020 without launching further takeovers.

According to Reuters, the firm wants to make $10 billion (£6.18 million) of sales in non-Airbus products.

Mr Ring observed it will not be possible to make this benchmark "organically" and his comments came after EADS announced three takeovers in the last 15 days.

All of these deals have been less than $1 billion and so he noted the group may aim for larger agreements in the future.

"We will look at bigger targets than what we have done, but it is risky in this environment," Mr Ring observed.

EADS - which was set up in 2000 - recently produced half year results that showed order intake was at $58.1 billion.

Posted by Ken Hayes
 

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