EADS set to spend up to two billion euros to buy firms: boss

5th October 2010, Comments 0 comments

European aerospace group EADS is set to spend up to two billion euros (2.7 billion dollars) on acquisitions, and has the defence, security and services sectors in mind, its boss said Tuesday.

"We have a few targets in sight" in those sectors, and "we have the capacity to invest between one and two billion euros," Louis Gallois told the German business daily Handelsblatt.

The amount is higher than the European Aeronautic Defence and Space Company (EADS) had indicated previously.

With a treasury that currently containes some 8.9 billion euros, EADS wants to strike a better balance among its activities, and take some pressure off its main division, the aircraft manufacturer Airbus.

© 2010 AFP

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