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Airbus Creates New Company For German Plants

Plane maker still intends to sell three manufacturing plants in Germany, but until then they will be taken over by a new holding company owned entirely by EADS.

FRANKFURT, Germany (AP) -- Plane maker Airbus still intends to sell three manufacturing plants in Germany, but until then they will be taken over by a new holding company owned entirely by European Aeronautic Defence & Space Co., the company said Sunday.
 
Airbus spokesman Tore Prang told The Associated Press that though buyers for the plants in Varel, Nordenham and Augsburg have yet to be found, they will not be spun off, but instead are now owned by German Aerostructures Co., which is headed by Hans Lonsinger, the former director of the Augsburg plant.
 
Prang said that GAC ultimately would be sold, including the plants. The three plants make components for Airbus planes, including the A350.
 
Prang said that the Laupheim, Germany, plant has so far had five or six bidders, with the selection process for a buyer in an advanced stage.
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