* Acquisitions key to reaching 2020 U.S. target
* Will look at bigger targets - CFO
* In talks with suppliers to move to dollar zone
(Adds CFO quotes, details on talks with suppliers, background
on acquisition plans)
By A. Ananthalakshmi
NEW YORK, Aug 10 European aerospace group EADS
EAD.PA, parent of Airbus, cannot meet its 2020 sales target
in the United States without acquisitions, its chief financial
officer said on Wednesday.
The company has targeted $10 billion in non-Airbus sales in
the United States by 2020.
"Organically we can't make it to $10 billion. So we are
looking at acquisitions," CFO Hans-Peter Ring said at an
EADS is screening acquisition targets for the services side
of its business, particularly in the security market, Ring
EADS has announced three acquisitions in the last 15 days
-- each of less than $1 billion.
"We will look at bigger targets than what we have done, but
it is risky in this environment," he said.
The company had about 11 billion euros ($15.6 billion)
in cash at the end of June.
The company has announced plans to buy Danish aircraft
parts distributor Satair SATA.CO, privately held satellite
communications firm Vizada and U.S.-based Metron Aviation. It
has also completed the purchase of Canada's Vector Aerospace
Europe's top aerospace company has tried to reduce reliance
on the capital intensive and highly cyclical Airbus jet sales
revenue stream. But the head of the company's 13-person mergers
and acquisition team has said EADS is under no pressure to do
deals at any price. [ID:nLDE77012J]
CFO Ring also said EADS was in talks with its suppliers to
encourage them to move towards the dollar zone.
EADS is doing so to hedge against currency losses. The
company works in euros but sells in dollars.
"We are encouraging and pushing them towards the dollar,"
(Reporting by A. Ananthalakshmi and Nick Zieminski, editing by
Gerald E. McCormick, Gary Hill)