FRANKFURT (AFX) - EADS's troubled Airbus unit plans to sell five of its German plants to investors in a cost-cutting move, the daily Bild Zeitung reported citing unnamed company insiders.
Following the sale, the plants will continue to act as suppliers to Airbus.
However, the roughly 6,600 workers will be asked to accept lower salaries, the newspaper added.
The plants are located in Nordenham, Stade, Varel, Buxtehude and Laupheim. alfred.kueppers@afxnews.com amk/tc COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited