MBDA revealed its plans to increase its US presence and presented Jerry Agee as the CEO of its MBDA Inc company at the Paris Air Show. Agee, an ex-corporate VP of Northrop Grumman, has held his new post for just two weeks. “MBDA Inc has been in existence for around 10 years,” he commented. “What is changing is the strategy and the emphasis that MBDA is putting on the US market.”
MBDA CEO Antoine Bouvier says the European company has been planning its new US thrust for over two years, but is still “reviewing its objectives”. He says the company has a desire to grow organically, via partnership agreements with US-based companies and also potential mergers and acquisitions: “we think there are some interesting opportunities”.
He says the short-term will be “challenging,” with DoD budget cuts in many conventional weapons sectors. But he is “optimistic” in his long-term outlook. He says a DoD review of the company’s plans in April received “favorable” feedback. MBDA Inc has recruited a new senior management team, which he says will start work between late June and the end of July.
Bouvier is sticking to his prediction for stable business in 2009. “The environment is quite challenging. We are facing budget pressures everywhere, and our market is as competitive as it has ever been,” he says. “But defence is certainly more robust than other industries.”