Airbus Group will sell some of the subsidiaries and business units within its defense and space division after what the aerospace and defense conglomerate called a “detailed and comprehensive portfolio assessment.”
Airbus Group said Tuesday that it identified its commercial and para-public communication business as among the candidates for divestment and said it also plans to divest of its interest in the Fairchild Controls, Rostock System-Technik, AvDef, ESG and Atlas Elektronik business.
This announcement comes nearly a year after the conglomerate adopted its current name from the former EADS brand and combined its defense and space businesses into one organization.
“Given the tight budgetary situation in our home countries and increasing competition on global markets, the portfolio review is an essential element to further develop our defence and space business and to ensure its competitiveness”, said Bernhard Gerwert, CEO of Airbus’ defense and space division.
The conglomerate will explore “industrial alternatives” for the division’s security and defense electronics businesses in an effort develop and position those businesses for future growth.
Airbus Group identified its space, military aircraft, missiles and related systems and services as the core businesses for its defense and space division.