Airbus Plans Restructure, To Sell Off Fairchild Controls, Atlas Elektronik

Airbus announced Tuesday plans to sell several subsidiaries from its defence division to focus on its core businesses of space activities, military planes and missiles, according to media reports.

"Some business areas are identified as divestment candidates as they do not fit the strategic goals," the company said in a statement, citing budget troubles among key state clients.

According to AFP, these include communications businesses such as commercial satellite activities "which will have better chances for growth and market success in different ownership structures".

Airbus cited specific units that would go on the auction block including Fairchild Controls, Rostock System-Technik, AvDef and Atlas Elektronik.

It said "further industrial alternatives" for its Security and Defence Electronics businesses would be explored. The company did not give a timeframe for the restructuring, the report said.

The head of the Airbus Defence and Space division, Bernhard Gerwert, said that the "tight budgetary situation in our home countries and increasing competition on global markets" had prompted the shift.

The restructuring will strengthen the company "particularly on critically important international growth markets", he added.