Thales: Republic of China (Taiwan) arbitration
09 June 2011
Thales (NYSE Euronext Paris : HO) has been notified of the decision of the Paris Court of Appeal on 9 June 2011, rejecting the petition filed by the company to set aside the award handed down on 3 May 2010 in the arbitration against the Republic of China (Taiwan), in relation to the procurement of six Lafayette-class frigates.
This decision will lead Thales to disburse an amount of about 170 million euros, or 27.46% of the total, corresponding to its industrial share in the supply contract.
The decision of the Court of Appeal is enforceable. Amounts due by Thales will therefore be paid by the company as soon as possible. This payment will be neutral on the company's financial results, as this litigation had already been full provisioned in previous years.
About Thales
Thales is a global technology leader for the Defence & Security and the Aerospace & Transport markets. In 2010, the company generated revenues of €13.1 billion with 68,000 employees in 50 countries. With its 22,500 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers as local partners. www.thalesgroup.com
Press contacts :
Alexandre Perra
Thales, Corporate Communications
Tel.: +33 1 57 77 86 26
press.office@thalesgroup.com
Investor relations contacts :
Jean-Claude Climeau
Thales, Investor Relations
Tel.: +33 1 57 77 89 02
ir@thalesgroup.com
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