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Samsung Thomson-CSF Co. Ltd. launches operations in Republic of Korea

18 June 2001

Thomson-CSF and Samsung Electronics, the South Korean defense industry leader, have effectively launched their joint venture with the incorporation of Samsung Thomson-CSF Co. Ltd.

The jointly owned company will develop products for the defense sector, generating revenues of 200 billion won (over 150 million euros) in 2000. Samsung Thomson-CSF Co. Ltd. now conducts Samsung's defense businesses, which are focused on air defense missiles, and also offers a full range of optronic products and systems, military communications equipment, naval combat systems and complete air defense missile systems.

The two partners formally agreed in October 1999 to set up the company, which is a 50-50 joint venture headquartered in Kumi, 200 km from Seoul. Samsung Thomson-CSF Co. Ltd. is a Korean company with registered capital of 270 billion won (240 million euros).

Tae Jin Park is Chief Executive Officer of the new company, with Philippe Lugan as Deputy Chief Executive Officer and Moon Kang as Chief Financial Officer. Philippe Lugan and Moon Kang were appointed by Thomson-CSF.

Samsung Thomson-CSF Co. Ltd. will have responsibility for the contract awarded to Thomson-CSF and Samsung last year on the K-SAM (Korean Surface-to-Air Missile) short-range air defense missile system program. The K-SAM contract, worth 230 million euros, calls for the production of a series of 48 Crotale NG surveillance and fire control systems and will involve progressive transfers of technology to the new company.

The creation of Samsung Thomson-CSF Co. Ltd. is fully consistent with Thomson-CSF's multi-domestic strategy, and is a further illustration of how the Group is combining global scale and local presence to develop its professional electronics businesses. Through this strategy, Thomson-CSF is consolidating a worldwide network that is close to local customers as well as achieving geographical diversity in its centers of excellence.

The operation brings Thomson-CSF a solid platform in Asia and an opportunity to strengthen its market positions throughout Northeast and Southeast Asia.

Press contacts

Thomson-CSF
Christophe Robin Tel. : 01 53 77 86 26
Caroline Harvey-Gutierrez