(Adds EADS comment, background)
FRANKFURT, Sept 22 Plane maker Airbus is in
talks to buy a majority stake in one of its German suppliers
that is facing a liquidity squeeze, parent company EADS
"Airbus as a major customer of PFW is ready to take over the
company in its severe liquidity crisis," a spokesman for EADS
said on Thursday, confirming a report in German daily Financial
"The company is an important supplier for Airbus, especially
PFW, whose tubes transport air and fuel in Airbus's A350 and
A380 aircraft and Boeing's 787 Dreamliner, generated
sales of 214 million euros ($293 million) in 2010, according to
This would not be the first time that Airbus has stepped in
to help a supplier in a bind.
It provided France's Latecoere industrial and
financing support last year. The debt-laden company has been
looking for a buyer as it struggles to absorb investments needed
to stay on board big aircraft projects such as the A350.
The spokesman for EADS said talks to buy a stake from PFW's
owner, private equity company Safeguard International, were
taking place. Any deal would also need regulatory approval.
"It is the objective to lead PFW out of the actual crisis,"
he said, adding PFW's medium and long-term prospects were
PFW, based in the southwestern German city of Speyer, was
not immediately available for comment. Parent company Safeguard
International did not have an immediate comment.
FT Deutschland said PFW was hit by delayed aircraft
programmes and high development costs.
($1 = 0.730 Euros)
(Reporting by Maria Sheahan; Editing by Hans-Juergen Peters)