Small & Medium-Sized Aerospace Enterprises set up CSH Cabin Systems Holding

HAMBURG 29. 9. 2004 (PROTEXT) - Six North German suppliers to the aircraft industry are joining forces. They have laid the cornerstone for restructuring the industry by founding the CSH Cabin Systems Holding (Ltd.). The move is a clear sign to big business that they intend to act as a strategic partner in dealing with complex work packages.

"CSH Cabin Systems Holding paves the way for a one-stop system supplier. From now on, we will manage the entire spectrum of services for cabin equipment from A to Z under a shared roof, allowing us to recruit additional customers worldwide", CSH managing director Weitemeyer emphasized.

The establishment of CSH came in the wake of market analyses carried out by the Hanse-Aerospace association. They assume a worldwide annual order volume of 10 billion USD for aircraft cabins, for everything from carpets to entertainment-systems. This represents a financially attractive growth market for any provider, assuming prices between 15 and 20 million USD per cabin for long-range jets and 5 to 10 million USD for short- and medium-haul aircraft.

Beyond the aircraft industry, CSH also intends to outfit ship cabins, coaches and train compartments. Large-scale manufacturers like Airbus, who demand that their contractors enter into risk- sharing, welcomed the merger as a step towards a necessary restructuring in the small business community. By the end of 2004, up to fifty more SMEs are expected to join CSH, along with major partners in the IT, Finance, Logistics and HR- Services sectors. Intensive negotiations are underway. The new company will take up operations at the beginning of January 2005.

Contact: CEO: Werner Weitemeyer werner.weitemeyer@cabin- systems.com Phone.:+49(0)4101851810

Managing Committee: Uwe Gröning uwe.groening@cabin- systems.com Phone.:+49(0)1726961801

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