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Company News, 2006-06-23, 01:31 PM

ThyssenKrupp Technologies and EADS reach agreement on industrial structure for Atlas Elektronik

Having received approval from the Competition Directorate of the European Commission, on 22 June 2006 ThyssenKrupp Technologies and EADS jointly agreed on a concept for the industrial structure of Atlas Elektronik. The central point of the industrial structure is the preservation of Atlas Elektronik as an independent company. The concept allows for the founding of a joint enterprise run by equal partners, with ThyssenKrupp Technologies having a 51 per cent holding and EADS 49 per cent.

The joint acquisition by ThyssenKrupp Technologies and EADS creates the best preconditions for the future development of Atlas Elektronik. The competence of ThyssenKrupp Technologies in naval shipbuilding with the integration of the EADS naval systems business will enable Atlas Elektronik to become one of the leading suppliers of maritime electronics in Germany with a competitively strong international market position.

The "Maritime Electronics House" created through combining unique products, capabilities and strengths is optimally positioned to provide highly complex, integrated systems for platforms and large defence systems. Through this new group, a strong maritime electronics and systems company will be established in Bremen.

ThyssenKrupp Technologies CEO Dr. Olaf Berlien and CEO of EADS' Defence & Security Systems Dr. Stefan Zoller spoke about the agreement: "The founding of this joint enterprise will considerably strenghten the German naval systems business and thus its global competitiveness."

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