Industryweek 2986 Enderstompromo

EADS Boss Tom Enders Say He'll Consider Job Guarantees if BAE Merger Happens

Oct. 4, 2012
The head of Dutch aerospace giant EADS NV on Thursday said he is prepared to discuss job guarantees if a controversial merger with British defense group BAE Systems gets the green light.

The head of Dutch aerospace giant EADS NV (IW 1000/59) on Thursday said he is prepared to discuss job guarantees if a controversial merger with British defense group BAE Systems PLC (IW 1000/158) gets the green light.

"I am so convinced of the merits of our project that I am prepared to talk about attractive job and headquarters guarantees that I could not consider for EADS [on its own]," CEO Tom Enders told the mass-circulation Bild newspaper in an interview.

"The merger of the two companies offers the best opportunities for German sites and jobs in the medium and long term," Enders said.

EADS and BAE Systems announced plans on Sept. 12 to create a $45 billion conglomerate to rival Boeing Co. (IW 1000/53).

The companies have until Oct. 10 to make a formal statement to the authorities to say that the deal is going ahead or being abandoned, or to request a delay.

But Berlin, Paris and London -- the latter of which has a "golden share" in BAE Systems -- each has a veto right on the merger negotiations, and the merger has run up against objections in all three countries.

According to a report in French daily Le Figaro on Tuesday, Berlin wants greater representation in the new firm, such as "for example the number of German administrators."

"We are offering France, Germany and Britain the same rights for the new company -- above all, a veto right against hostile takeovers," Enders said. "The governments don't need to pay a cent for this and can secure their interests."

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Machine Learning and Predictive Analytics Guidebook for Engineers

Sept. 27, 2023
Leverage Domain Expertise to Drive Optimization – Without Needing a Data Scientist.

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!