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AIR - Airbus SE News Story

€98.37 1.6  1.7%

Last Trade - 07/05/21

Sector
Industrials
Size
Large Cap
Market Cap £67.27bn
Enterprise Value £69.59bn
Revenue £43.30bn
Position in Universe 14th / 848

UPDATE 1-Airbus shakes up aero parts manufacturing

Wed 21st April, 2021 5:43pm
(Updates with additional reporting)
    PARIS, April 21 (Reuters) - Airbus  AIR.PA  has launched the
biggest shake-up of its manufacturing network in more than a
decade, with large parts activities reorganized in France and
Germany and some small parts activities to be placed under
review.
    The European planemaker said on Wednesday it would combine
aerostructure assembly in France under one entity, bringing
major fuselage parts plants in St Nazaire and Nantes together
with the worldwide operations of its Stelia affiliate.
    In Germany, the Premium Aerotec business will be split, with
part of it combined with manufacturing plants in Stade and some
of the large Hamburg factory, and the rest folded into a new
business specialising in small mass-produced "detail" parts.
    "We are in the process of reviewing different ownership
structures to identify the best possible solution," a spokesman
said, referring to the new Germany-based detail-parts spin-off.
    Those parts can range from small generic items like metal
brackets costing a few dollars to complex machined items costing
tens of thousands, such as those made in the highly automated
Varel plant in Germany.
    Also included in the new entity are part of the Augsburg
plant in Germany and the Brasov facility in Romania.
    Discussions continue on operations in Spain.    
    The shake-up comes two months after Chief Executive
Guillaume Faury declared aerostructures, which includes the
manufacturing of fuselage parts, to be "core"  urn:newsml:reuters.com:*:nL8N2KO0S9.
    Once considered the less valuable end of the aerospace
spectrum, aerostructures are now increasingly considered vital
to the aerodynamically complex shape of future designs.
    The new move draws a line under past efforts to sell the
whole of Stelia and PremiumAerotec, which had been carved out in
2009. Industry sources have said few buyers came forward.

 (Reporting by Tim Hepher; Editing by David Evans and Aurora
Ellis)
 ((tim.hepher@thomsonreuters.com; +33 1 49 49 54 52; Reuters
Messaging: tim.hepher.thomsonreuters@reuters.net))
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