BERLIN (AP)— The CEO of German engineering firm Voith AG said Tuesday that his company was bowing out of the bidding process for Airbus' German plants.
Hermut Kormann told reporters in Heidenheim that the company did not see any possibility to develop a concept for the plants that would satisfy both Voith and Airbus.
Under Airbus' so-called Power 8 shake up, the company plans to divest four plants in Germany, in Augsburg, Nordenham, Varel and Laupheim.
Voith AG was on the short list of contenders for the sites, which also includes German firm MT Aerospace and U.S.-based Spirit Aerosystems Inc.
Airbus, the airplane arm of European Aeronautic Defence & Space Co., undertook the restructuring measures after being hit with delays in production of its new superjumbo jet, the A380.
In total the company is divesting itself of seven plants — two in France and one in Britain in addition to those in Germany. There are now four companies involved in the overall bidding, according to Airbus.