Astrium Completes Acquisition of Vizada
Astrium completes the acquisition of Vizada after receiving the necessary regulatory approvals. Vizada is a leading independent provider of global satellite communications services and will be integrated into Astrium Services. This acquisition represents a total consideration of € 673 million and contributes to EADS' strategic Vision 2020. “We are happy to welcome Vizada into the EADS Group, which concludes a successful year for us in terms of acquisitions”, said Marwan Lahoud, Head of EADS Corporate Strategy and Marketing Organisation. According to Eric Béranger, CEO of Astrium Services: “Combining the skills and capabilities of everyone in Vizada and Astrium Services creates a world leading provider of satellite services.
Global Shipbuilding to Turn Around in 2017: Castrol
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, says Castrol Marine Trade Barometer. The Barometer predicts that growth will be driven largely by the Asia-Pacific region, but also Latin America and the Middle East. All European nations but the Netherlands face a downward trend until 2017. Mandhir Singh, COO at Castrol, says, “The main growth in shipbuilding will come from AsiaPacific countries to 2019.