Reports: EADS Selling Socata to Daher

 - April 24, 2008, 10:58 AM

According to several newspaper reports, European aerospace consortium EADS is close to selling its Tarbes, France-based Socata division to Daher, an aerospace, defense, nuclear and automotive group headquartered in Wissous, France. An industry source close to the deal told AIN that Daher has completed the due diligence process, with the sale apparently hinging on Airbus awarding a contract for A350 work to Socata. Daher’s aerospace division has a “wealth of experience in the design, development and manufacturing of composite structural assemblies” for Airbus, Eurocopter, Dassault and Embraer, as well as equipment and services suppliers such as Latecoere. On Tuesday, Daher won a contract to design and manufacture composite structural elements for the Gulfstream G650. French newspaper Journal du Dimanche earlier this week reported that Lucien Cazenave, the leader of the union at Socata, said that EADS wants to sell Socata–the manufacturer of the TBM 850 turboprop single–to raise cash following the collapse of the sale of Airbus production plants in Germany. EADS and Socata officials did not return AIN’s multiple requests seeking comment.