Half of Cassidian’s sales will eventually come from outside Europe so the unit will have to build up its business in countries such as India, Zoller told the German newspaper. Orders in Europe are stagnating, he said.
Cassidian plans to save 370 million euros ($488 million) by the end of 2013 with a restructuring program, Zoller said, according to the newspaper. The unit expects additional synergies from consolidation of its production operations, Sueddeutsche said.
To contact the reporter on this story: Sheenagh Matthews in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com