Dasa and CASA sign Memorandum of UnderstandingCombination offers new potentials
; Munich/Stuttgart, June 11 ---"We value this step as a great success for Dasa and above all a good signal for the European aerospace industry. This merger is going to be the first major cross-border business combination in the European aerospace industry and an incentive for further steps. It will strengthen DaimlerChrysler's global position in this field." This was how Jürgen E. Schrempp, Chairman of DaimlerChrysler AG, commented on the decision of the Spanish state holding company SEPI to merge CASA with Dasa. ; "Jointly we are now in the position to take the largest cross-border step in the restructuring of the European aerospace industry and thus make an excellent contribution toward consolidating and optimizing the success of major programs such as Airbus and Eurofighter," declared Dr. Manfred Bischoff, President and CEO of DaimlerChrysler Aerospace AG (Dasa, Munich). The combined company will have sales revenues of 11 billion Euro and a workforce of 53 000 people. ; Dasa and CASA complement each other perfectly, not only in their development activities but also in their production and sales capabilities. This opens up considerable potential for a joint increase in corporate value, for accessing new markets and for generating new business. ; As Bischoff emphasized: "The aim of the merger is clear: We will strengthen our competitiveness by combining our complementary activities. And together we will continue to contribute to the restructuring of our industry in Europe." ; The merged aerospace activities will be part of the DaimlerChrysler Group, the world's leading provider of transportation products and services. ; The intended merger with CASA reflects Dasa's forward strategy. Dasa is committed to profitable growth to the advantage of its customers, employees and shareholders. ; There have been very close business relations between Spain and the DaimlerChrysler Group for many years. In Spain, DaimlerChrysler employs 5,000 people, the majority in automotive plants at Vitoria and Barcelona. Dasa (formerly MBB) has held shares in CASA since 1976. The relationship goes back to the fifties, when the German aircraft pioneer Willy Messerschmitt held a 20 percent share in the Spanish HASA. However, the very origins of the cooperation between the two countries in aviation date back to the year 1923, when the Spanish government placed the first order for the legendary Dornier Wal flying boat.
-ends-
Dasa and CASA sign Memorandum of UnderstandingCombination offers new potentials
