EADS awards Tier 1 Engg Status to Satyam

NEW DELHI: IT services and consulting firm Satyam Computer has been awarded Tier 1 Engineering Supplier Status by the European Aeronautic Defense and Space Co (EADS), an global leader in aerospace and defence industries.

NYSE-listed Satyam was awarded this status after a tough selection process involving 2,000 other suppliers, a Satyam release said on Monday.

The Tier 1 designation is part of an EADS program called E2S that supports Airbus's "Power8 Program". The organisation outsources critical activities in order to save $3.25 billion annually to combat the effect of a weak dollar against the Euro.

"Europe is a focus for our organisation and we are pleased to be a preferred Tier 1 supplier for both engineering and application services," Peter M Heij, Head of Continental European Operations, Satyam said, adding the firm considers its relationship with EADS to be strategic.

The Hyderabad-based firm Satyam has collaborated with EADS, parent company of Airbus, for more than three years and pitched in to create A380, the world's largest passenger aircraft.

The company's aerospace team comprises 1,000 employees serving six of the top 10 aerospace companies in the world. It has a facility in Bangalore dedicated to Airbus.

Satyam's shares closed at Rs 488. 45 on Monday on the BSE, up 1.58 per cent.