Company Watch - EADS.
Airbus in Broughton may be the biggest aerospace employer in Wales, but almost as vital to the sector are parent company EADS's sites in Newport, which employ 1,400 people - most in high-skilled engineering and technical jobs - and arguably support several times that number in academia and the supply chain. EADS's presence in the small south Wales city began when it bought secure communications specialist Cogent in 2001, transforming it from a purely defence supplier into a much broader specialist in integrating communications, cryptology and surveillance systems for public sector customers. Part of EADS's Defence and Security division, it relocated last year from the other side of Newport to a [pounds sterling]35 million ($51 million) campus at Celtic Springs, which it shares with a unit of EADS Innovation Works, the European giant's new global network of seven research and development facilities or technical capability centres. Mar 30, 2009
EADS Astrium has put its suborbital space jet project on hold, blaming the worldwide financial crisis for its inability to raise private financing. The European space prime gave space jet's development a [euro]1 billion ($1.35 billion) price tag when announced in 2007 and claimed it had interested investors. Mar 30, 2009
Eurocopter has become the majority shareholder of its former Japanese helicopter distributor Euroheli, increasing its stake in the company from 10% to 90% after buying most of the shares owned by trading firm Itochu Corp. The EADS subsidiary says that Itochu will still own 10% of Euroheli, which it has merged with its subsidiary Eurocopter Japan. This company will become the first foreign aircraft manufacturer in Japan to carry out direct sales and customer support activities for its entire range of range of civil and military helicopters, says Eurocopter. Apr 2, 2009
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