LONDON—European Aeronautic Defence & Space Co. on Wednesday set out a radical revamp of its activities, bringing its defense and space operations under one roof and renaming the company Airbus Group in a bid to streamline the company's structure, improve profitability and sharpen its corporate image.
The move is primarily aimed at reducing vulnerability in its defense division as governments world-wide rein in military spending, and after the failed merger with the U.K.'s defense company BAE Systems PLC last year.
"We ...
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