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EADS Eyes Foreign Markets As European Budgets Contract

DDN

Friday, July 23rd, 2010

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Anticipating a major drawdown in spending by European governments over the next several years, executives of the European Aeronautic Defense and Space Company (EADS) said late last week that they are looking overseas to developing countries for both sales and cheaper labor. "It is quite clear that European markets will decline, or be stable at best," Stefan Zoller, CEO of EADS' military division, told reporters here on Saturday ahead of the Farnborough International Air Show, which started yesterday. "There is…

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