Publication: ASD Network Issued: Thales Date: 2005-12-19 Reporter: Thales Reporter:

Thales Announcement about Atlas Elektronik

 

Publication 

ASD Network

Issued

Thales
Date

2005-12-19

Web Link

 www.asd-network.com

 

The French Government and Thales today announced their intention to merge France’s DCN (former national shipyards) and Thales’ naval activities, resulting in Thales holding a 25% stake in DCN’s capital.

This announcement initiates a 6-month period of due diligence, with the objective of finalizing the deal before mid-2006. Following this period, Thales will become DCN’s industrial shareholder of choice, and as a minority shareholder will have the right to participate in the management of the company.

Denis Ranque, Chairman and CEO of Thales, highlights the European dimension of such a move: "Thales’ entry into DCN’s capital, paves the way towards European partnerships most notably with Germany."

This agreement does not encompass Thales’ worldwide naval electronics equipment business, which includes those activities potentially involved in Thales’ proposal for Atlas Elektronik *1. Prime contractorship and naval systems activities based outside of France, in particular in the Netherlands, Germany and the United Kingdom, are not concerned. Thales confirms its commitment to serve the independent European naval shipyards with which it has developed a long lasting and successful cooperation.

As such, Thales upholds all the terms of its offer for Atlas Elektronik, including an open invitation to TKMS to join forces. Within the framework of the on-going Atlas Elektronik sale process, Thales remains ready and able to provide the relevant German stakeholders with all appropriate industrial and security guarantees.

Press contact:
Markus Leutert
Tel : + 33 (0) 1 57 77 8626

source: Thales

With acknowledgement to ASD Network and Thales.


*1  Atls Elektonic supplies the ISUS 90-45 combat management system for the SA Navy's Type 209 Coastal Submarines.

By crook or by hook shall Thomson-CSF have the SA Navy's combat suite and combat management system business, partly underwritten by Thomson-CSF's deep pocketed shareholder, the French taxpayer (now 31,3%, previously over 50%, originally 100%).