Posted: Thu, Aug 1, 2013, 6:51 AM ET (1051 GMT)
European aerospace company EADS announced plans Wednesday to combine its defense and space units into one division, while also rebranding the overall company after its airliner unit. The company said the company's Astrium space business unit would be combined with a defense business, Cassidian, and Airbus Military into a single Defense and Space Division. Space Systems will be one of four segments within the new division. EADS is also changing is name to Airbus Group, after the division of EADS best known for its commercial jetliners. The announcement came as the company announced its earnings for the first half of 2013. Astrium reported earnings of &128;123 million on &128;2.81 billion in revenues, compared to &128;129 million on &128;2.66 billion in revenues for the first half of last year.

Related Links:

•  Aviation Week article
•  Wall Street Journal article
•  Reuters article
•  Bloomberg News article
•  EADS press release