Thales acquires BAE Systems'shareholding in Thomson Marconi Sonar
27 July 2001
Thales today announced the acquisition of BAE SYSTEMS’ share (49.9%) in Thomson Marconi Sonar (TMS). The deal makes Thales the sole shareholder of TMS. TMS has operating units in the United Kingdom, France and Australia, employing more than 2,500 people world-wide and generating sales in 2000 of 345 million euros. Thales will rename TMS according to its global branding strategy.
The TMS joint venture was set up in 1996 between the then GEC-Marconi (49,9%) and the former Thomson-CSF (50,1%). Following BAE Systems’ purchase of Marconi Electronic Systems in November 1999 and extensive discussion with BAE SYSTEMS, Thales confirmed that it intended to acquire BAE SYSTEMS’ share on 26 July 2001.
This acquisition is fully consistent with Thales’ multi-domestic strategy - TMS has a strong industrial presence, established good relationships with local customers in the United Kingdom, France and Australia and has a strong export market position.
The operation will have a positive impact on both TMS and Thales. TMS will play a key role within Thales to strengthen the Group’s naval equipment and systems supply business and will benefit from the Group's support to optimise the penetration of export markets.
With over 50 years cumulative experience in undersea warfare, TMS is a world leader in its field, the major exporter of sonars and allied systems for navies and airforces, and is making major advances for civil applications. TMS’s technical excellence was recently confirmed by the award of the 2087 and 2193 major sonar programmes by the UK Ministry of Defence.
Press contact
Matt Pothecary
Tel: + 33 (0) 1 53 77 86 26
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