FRANKFURT (Reuters) - EADS EAD.PA has no plans to give up its defense business but is open to seeking alternatives for parts of it, Chief Executive Tom Enders told a German newspaper.
“We will certainly examine very closely which business is worth continuing, with regard to profitability and market perspective - and which business may possibly have a better future as part of a joint venture or under a new owner,” Enders told daily Die Welt in an interview published on Wednesday.
“What’s certain is that in times of shrinking budgets, consolidation in the defense industry is necessary.”
EADS’ defense business has sales of 12 billion euros ($16.1 billion), making it the biggest in Europe, Enders said.
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Reporting by Christoph Steitz; Editing by David Holmes