European Aeronautic Defence and Space Company to Open Branch in Russia

The European Aeronautic Defence and Space Company (EADS) is to open a new company in Russia. This was announced on Thursday at a press conference by the Vice Marketing Director of EADS, Dr Bergner. He said that the leaders of the organisation have decided to strengthen their position in Russia, and that definite steps will be taken by this August. The new company, like EADS itself, will be a commercial structure.

Member of the State Duma Vladimir Ryzhkov, member of the non-governmental committee Russia within a United Europe supported this project. He hopes that 'it will become a first very important step towards the Russian flag appearing among the four national flags of countries in which EADS works'.

EADS is the largest aeronautic and space company in Europe and the second largest in the world after Boeing. It incorporates British, German, French and Spanish companies. The yearly turnover of the company for the year 2001 came to EUR 24.2 billion. In 2001, EADS and Rosaviakosmos signed an agreement for cooperating in aeronautic and space work. EADS works with civil, military and army transport aviation, helicopter design and aerospace. The signed agreement will result in over USD 1 billion of investment into the Russian economy and the creation of more than 20,000 work sites.