Tuesday, February 26, 2013

EADS terminated its joint venture with Brazilian Odebrecht

EADS will put an end to its partnership with the Brazilian group Odebrecht construction after failing in his attempt to win an order for surveillance systems.

A spokesman Cassidian, the defense subsidiary of EADS, announced Monday, Feb. 25 that the joint venture would be dissolved, confirming a report published in Handelsblatt.

The newspaper said the joint venture had submitted a bid for a contract worth about $ 6 billion on the provision of surveillance technologies for the FIFA World Cup 2014 and the Olympics in Rio in 2016.

The contract was finally awarded to Embraer.

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