Monday, 4 August 2008

Airbus Sells Its Production Plant in Germany

Airbus suffered major delays to its A380 superjumbo program, which caused its parent-company, EADS, large financial losses in 2007.
The company reported on Friday, August 1st, that it had signed an agreement to sell one of its production sites in Germany to a consortium composed of German parts maker Diehl and French electronics company Thales.
The sale of the Airbus production site at Laupheim is part of a major restructuring plan at Airbus called Power8, which calls for a cut of 10,000 jobs, and the sale of seven (7) facilities.
The change at the Laupheim plant will occur on or about October 1st.