EADS' Gallois sees 'no influence' from AMF investigation on U.S. tanker deal PARIS (Thomson Financial) - EADS NV CEO Louis Gallois said he sees 'no influence' from the ongoing investigation by French market regulator the AMF into alleged insider trading and poor financial communication on its contract to supply tanker aircraft to the U.S. Air Force.
Boeing (nyse: BA - news - people ) is currently protesting the award of the $35 billion deal for 179 aircraft to EADS and prime contractor Northrop Grumman Corp. (nyse: NOC - news - people )
Gallois recognised that the company's image could, however, be adversely impacted by having a relatively large number of managers involved in the AMF probe, and insisted that the investigation should be carried out 'calmly, confidentially, and with the presumption of innocence' to allow the managers involved to concentrate on managing.
The AMF is investigating share sales that took place between November 2005 and April 2006, shortly before major delays to the A380 programme were made public, sending the company's stock tumbling.
Gallois strongly rejected the idea that EADS and Airbus' executive committees should be 'half made up of cheats and profiteers', adding he is 'up in arms' at the suggestion. 'I see them working, I know them. I want them to continue to carry out their tasks. If there were less noise around this then that would be possible.'
Gallois also confirmed the company is planning to set up an 'autonomous company' to group together three aerostructures sites in Germany - Augsburg, Varel and Nordenham - after discussions over the sale of the three plants to OHB Technology AG broke down. Gallois said the company is 'in discussions' with potential shareholders for the new company. 'The objective is for us not to hold the majority - to be a minor shareholder or to be absent,' Gallois said.
The process of selling the company's Laupheim site is still proceeding, he added.
Link
http://www.forbes.com/markets/feeds/afx/2008/04/15/afx4889586.html
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