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Aerospatiale Matra, DaimlerChrysler Aerospaceand Marconi Electronic Systems Establish Astrium
PARIS/LONDON/MUNICH---Aerospatiale Matra (Paris), DaimlerChrysler Aerospace AG (Dasa, München) and Marconi Electronic Systems (Stanmore, UK) have signed the Formation Agreement for the first trinational European space company, which will be named Astrium.
The merger of the Franco-British joint venture Matra Marconi Space (MMS) with Dasa's space activities will create one of the world's leading space companies. Once the European Commission has given its approval, Astrium is expected to be formally created at the beginning of the year 2000. With over 8,000 employees and annual revenues of Euro 2.25 billion, Astrium will be by far the largest space company in Europe.
The Astrium partners will build on 30 years of successful cooperation and joint programs. The company is committed to the principle of partnership between its shareholders on an equal footing and is dedicated to achieve profitable growth.
The Board of Management of Astrium will consist of four members, each having equal rights:
**Armand Carlier, Chairman of the Management Board and CEO
**Klaus Ensslin, Head of the Earth Observation and Science Business Division -
**Nick Franks, Head of the Telecommunication Business Division
**Josef Kind, Head of the Launcher and Space Infrastructure Business Division
Dasa's space activities comprise the Dasa Space Infrastructure business unit and the Satellites business unit (Dornier Satellitensysteme GmbH) .
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Aerospatiale Matra, DaimlerChrysler Aerospaceand Marconi Electronic Systems Establish Astrium