LONDON – Airbus Group, the European aerospace and defense giant, said on Tuesday that it intended to sell several defense and space businesses as it streamlines that division.
The move follows a review of business lines after Airbus announced a restructuring of the division last year, when it combined its Astrium, Airbus Military and Cassidian entities under one roof.
Within its defense and space division, Airbus said that it would focus on satellites, launchers, military aircraft and missile systems as it sees those as areas of future growth.
As part of its plans, the company will sell a business that includes professional mobile radio and commercial satellite communication, and it will look to sell its stake in Atlas Elektronik, a maker of weapons and other systems for naval vessels.
"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 defense and space business and to ensure its competitiveness," Bernhard Gerwert, the chief executive of Airbus Defense and Space, said in a news release. "We have identified those segments where this is an achievable target and those where we should explore alternative options."
Other Airbus units up for sale include Fairchild Controls, a maker of avionics and hydraulic systems for aircraft; Rostock System-Technik, a German provider of aircraft engineering services and cabin simulators; and ESG, a software business.
The company also said that it would explore further "industrial alternatives" to better position its security and defense electronics businesses for growth.
Airbus said that the defense and space business had annual revenues of about 14 billion euros, or about $18 billion, and employs around 40,000 people. Airbus, which also has aircraft manufacturing and its helicopter divisions, employs about 144,000 people worldwide.
The commercial aircraft business generates most of the company's revenues, which were €59.3 billion in 2013.
Shares of Airbus were up less than 1 percent at €49.05 in midday trading in Paris on Tuesday.
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