Airbus UK

Infobox Company
company_name = Airbus UK Limited
company_
vector_
company_type = Private
foundation = 1997-11-20
location_city = Bristol
location_country = United Kingdom
key_people =
area_served =
industry = Aerospace
products = Aerostructures
revenue = £2,068 million (2005)"Airbus UK Limtied" "ICC Directory of UK Companies" ICC Information Group Ltd. 2006-11-22 Accessed 2007-01-03 ]
operating_income =
net_income =
num_employees = 10,135 (2005)
parent = EADS NV
Airbus Holding SA
divisions =
company_slogan =
homepage =

Airbus UK is a wholly owned subsidiary of Airbus SAS which produces wings for the Airbus aircraft family. When Airbus was incorporated as a joint stock company in 2001 BAE transferred its UK Airbus facilities in return for a 20% share of the new company. These facilities became Airbus UK. Airbus UK has two main sites responsible for the design and manufacture of the high-technology wings for all Airbus models as well as overall design and supply of the fuel system. For most Airbus models the company is responsible for overall design and supply of landing gear. With a total workforce of around 13,000 people:- Filton near Bristol where the engineering and design activity takes place along with some manufacturing, and, at Broughton in Flintshire (near Chester) where other major wing component manufacturing and all wing assembly takes place. Each site employs over 6,000 people. Filton is also home to a retired Concorde.

History

Hawker Siddeley (which merged with British Aircraft Corporation (BAC) in 1977 to form British Aerospace) was part of the first Airbus project, the Airbus A300. The British government withdrew support in 1969 but Hawker Siddeley was allowed to continue as supplier of the aircraft's wings due to the advanced stages of design and the reluctance of other nations to take over the wing design. In 1979 BAe rejoined the Airbus consortium. In 2001 Airbus Industrie became Airbus S.A.S., the Airbus Integrated Company.

Airbus UK started work on the wings for the Airbus A380 in August 2002.

In April 2006 BAE Systems announced its intention to sell its share of Airbus SAS to EADS." [http://news.bbc.co.uk/1/hi/business/4885426.stm BAE Systems to sell Airbus stake] ." BBC News. April 6, 2006.] BAE originally sought to agree a price with EADS through an informal process. However due to the slow pace of negotiations and disagreements over price, BAE exercised its put option which saw investment bank Rothschild appointed to give an independent valuation.

On July 2, 2006 Rothschild valued BAE's stake at £1.9 billion (€2.75 billion); well below the expectation of BAE, analysts and even EADS. [" [http://business.guardian.co.uk/story/0,,1811589,00.html BAE under pressure to hold Airbus stake] " "The Guardian" Retrieved 3 July 2006] On 5 July 2006 BAE appointed independent auditors to study why the value of its share of Airbus had fallen from the original estimates to the Rothschild valuation. On 6 September 2006 BAE agreed to sell its stake in Airbus to EADS for £1.87 billion (€2.75 billion, $3.53 billion), pending BAE shareholder approval. [cite news | title = BAE agrees to £1.87bn Airbus sale | publisher = BBC News | date = 2006-09-06 | url = http://news.bbc.co.uk/1/hi/business/5321626.stm | accessdate =2006-09-06] On 4 October shareholders voted in favour of the sale. [cite news | last = Hotten | first = Russell | title = BAE vote clears sale of Airbus stake | publisher = Daily Telegraph | date = 2006-10-04 | url = http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/10/04/bcnbae04.xml | accessdate =2006-10-05]

ee also

*Airbus UK F.C., an Airbus UK football club based in Wales.

References