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Airbus CEO: We will pick buyer for defense electronics by year-end

Staff writer |
Airbus plans to pick a buyer for its defense electronics unit by the end of 2015 as part of its plan to dispose of assets with combined revenues of 2 billion euros ($2.13 billion), CEO Thomas Enders said.

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"The sales process for the defense electronics is ongoing, and we want clarity on the buyer by the end of the year," Enders told Frankfurter Allgemeine Sonntagszeitung (FAS) on Sunday.

Enders told FAS that he would consider selling to a foreign buyer over domestic Rheinmetall despite political resistance.

"If I'm selling something I have to get the best possible price for it," he said.

The business makes components for radars, optronics, electronic warfare and border control applications and has about 100 million euros in annual earnings before interest, taxes, depreciation and amortization on 1 billion euros in sales.

The products are used, for example, in surveillance or for equipment that helps pilots to fly in fog or at night.

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