Spot-Fixing Scandal

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Tracking Sensex

Tracking Sensex

Top five losers, gainers this week.  Full Article 

AirAsia  in India

AirAsia in India

AirAsia India launch seen in Q4; may order 50 more Airbus jets: CEO.  Full Article 

News Corp Writedown

News Corp Writedown

News Corp to take charge of up to $1.4 billion this quarter.  Full Article 

Detroit Crisis

Detroit Crisis

What Detroit crisis? Pension fund trustees hang out in Hawaii.  Full Article 

Jet, Spicejet Results

Jet, Spicejet Results

Jet Airways, SpiceJet report quarterly losses.  Full Article | Related Story 

Deflated expectations

Deflated expectations

Breakingviews columnists discuss the implications of inflation being in decline globally.  Video 

Gold Outlook

Gold Outlook

Gold faces more pressure as inflation stays tame.  Full Article 

Revenge of Markets

Revenge of Markets

For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft.  Full Article 

Buy, Sell or Hold?

Buy, Sell or Hold?

Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage 

New Cassidian CEO puts focus outside Europe after India setback

Stocks

   

FRANKFURT | Fri Feb 1, 2013 6:50pm IST

FRANKFURT (Reuters) - The new head of Cassidian, the defence arm of European aerospace group EADS, has vowed to take the company's focus away from Europe after missing out on a $15 billion Indian order for fighter jets last year.

Germany-based Cassidian had to do more to better understand its customers and take more of an international view, Bernhard Gerwert, chief-executive since September, said.

"We are still putting too much focus on Europe," he was quoted as saying in Cassidian's employee magazine.

Gerwert said Cassidian aims to make 50 percent of its revenues outside of Europe by 2016, compared with around 30 percent now.

As part of that drive, on Friday Peter Gutsmiedl, already CEO of its Indian unit, was appointed the company's first head of Asia-Pacific to push for more business in the region.

Cassidian, as part of the Eurofighter Typhoon consortium, lost out to France's Rafale last year in a contest to supply India with 126 warplanes, after having been tipped as favourite.

It then launched a review of contract management and initiated a management shake-up, appointing Gerwert as CEO in September.

"We lost a number of key international campaigns in 2012 due to a lack of competitiveness and insufficient knowledge of our customers," said Gerwert.

With traditional defence budgets in Europe and the U.S. coming under pressure from government cutbacks, Cassidian will also look to focus more on unmanned systems - also known as drones - and products for the civil market, such as border security and cyber security.

"We will invest in capability enhancements to the Eurofighter for global export, unmanned aircraft systems, border security and cyber security," Gerwert said.

The German defence minister said on Friday that the country's military will acquire armed drones, to protect soldiers in dangerous situations.

(Reporting by Jens Hack; Writing by Victoria Bryan; Editing by Elaine Hardcastle)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.