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BUSINESS NEWS

10 Jul 08. The head of a German EADS subsidiary, former top Airbus executive Andreas Sperl, was held in French custody for a second day Thursday for questioning over alleged insider trading at the aerospace group, judicial sources said. The 61-year-old Sperl is one of 17 people suspected by French stock market investigators of using inside knowledge about production delays at Airbus, the main subsidiary of the European Aeronautic Defence Space Company (EADS), to make massive gains on share sales. He was taken into custody for questioning by French financial investigators on Wednesday morning and can be held for a maximum of 48 hours. A former Airbus chief financial officer who now heads an EADS plant in the eastern German city of Dresden, Sperl is the first serving senior manager at the group to be questioned in the probe, in which three former EADS bosses have so far been charged. According to a report by France’s financial market regulator AMF, Sperl sold 58,000 EADS shares in November 2005 and March 2006, earning 816,000 euros (1.28 million dollars), before Airbus revealed delays with its A380 superjumbo. (Source: Google)

04 Jul 08. EADS and DAHER announce the opening of exclusive negotiations for the acquisition of a majority interest by DAHER in EADS Socata. Bringing together DAHER and EADS Socata would allow the creation of a major actor in the area of aerostructures and business aviation and develop joint projects in these two areas, in particular with regards to the A350 for which EADS Socata DAHER would be a tier one partner.

07 Jul 08. The Morgan Crucible Company plc – Trading Statement, 7th July 2008.The Morgan Crucible Company plc issues its trading update ahead of its 2008 half year results to be announced on the 6th August 2008. The first half of 2008 has seen turnover increase by c.13% compared to last year. On a like for like basis, excluding acquisitions, revenue growth is expected to be c.10% (c.4% on a constant currency basis). Our organic revenue growth guidance for the full year remains in the 5-6% range on a constant currency basis. The order books across all our divisions continue to be strong and are well ahead of this time last year. Group underlying operating profit margins after restructuring charges and before amortisation of intangible assets (ie goodwill on acquisition) are expected to be in the mid 11% range at the half year which is comparable to the full year 2007 at 11.4%. Underlying operating profit margins in the second half of the year are expected to benefit from having now resolved the armour production constraints, a full 6 month contribution from the Carpenter business and our strong current order book. The technical ceramics businesses acquired earlier this year from Carpenter Technology Corporation have made a promising start in terms of order books, revenues and bottom line contribution which are all ahead of previous expectations. The Group’s balance sheet remains robust. In March of this year the UK defined benefit pension risk was substantially reduced following the UK pensioner buy-out announced at that time. Overall, performance for the full year is anticipated to be in line with expectations. Commenting on the year to date performance and outlook for the Group, Mark Robertshaw, Chief Executive Officer said: “The Group has continued to trade well in the first half of 2008. Order books – which give us some 3 to 4 months’ visibility – are healthy and at levels well above the same time last year. The recently acquired Carpenter businesses are performing well ahead of expectations for both revenue and profit margin. Looking forward we expect to make margin progression in the second half and we continue to target our medium term goal of mid-teen operating profit margins. The strength of Morgan Crucible’s market positions, order book and robust balance sheet enables us to look to the future with confidence.”
Carbon
The Carbon order book entering the second h

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