Thales and DCN reach agreement on joint company plan
15 June 2001
The French government and Thales signed a memorandum of understanding (MoU) today about the formation of a joint company equally owned by Thales and DCN. This decision is part of consolidation moves within the European naval defence industry. The future company will combine the prime contracting activities and the commercial activities of DCN/DCN International and Thales Naval France in the fields of warship prime contracting and naval combat systems.
The plan to set up a joint company was announced in February 2000. It will operate in export markets and on cooperative programmes. The company will be responsible for the French industry contribution to the Franco-Italian Horizon frigates programme. Thales and DCN/DCNI teams are already working together on the Horizon programme.
Thales and DCN will retain their own industrial capacities and will work as subcontractors to the new company on the programmes for which it is responsible.
Equipment (Radar, sonar, communication etc.) is not affected by this agreement and will continue to be developed and marketed by Thales and its subsidiaries. Thales' naval subsidiaries outside France will continue to conduct their own commercial and industrial activities with their customers and with naval shipbuilders in other countries.
The joint company will be a public limited company (societe anonyme) managed by a supervisory board and an executive board with equal representation by the two partners. The chairman of the supervisory board will be appointed on DCN recommendation, while the Managing Director, chairman of the executive board, will be proposed by Thales. Management positions will be shared equally between Thales and DCN/DCNI staff.
The MoU marks the beginning of a new phase in the process of setting up the new company, which is expected to be effective in the summer of 2001.
Press contacts
Matt Pothecary
33 (0) 1 53 77 86 26
Alix Vimont
33 (0) 1 53 77 85 13
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