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EADS BUYS SIEMENS DEFENCE UNIT

2 May 02. EADS announced today that it will acquire a facility in Belgium from Siemens AG (SI) to beef up its defense electronics operations.
Financial terms weren’t disclosed.

The Siemens unit, based in Oostkamp, near Brugge, has a workforce of 250 and was
a supplier of parts for EADS’s radar and communication systems.

Comment: The Stefan Zoller takeover machine is now showing signs of action. With true German caution, Zoller has been reluctant to step in and make expensive acquisitions in a plan outlined during the 2001 Paris Air Show which should see EADS having a $3bn Electronics segment.

This acquisition, although small, may herald similar bolt on deals prior to any large acquisition.

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