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FRANCE AND USA TO FORM DEFENCE ELECTRONIC JOINT VENTURE
PARIS, FRANCIA, U.S. Raytheon and french Thales, formerly known as Thomson-CSF, agreed a joint venture to produce defence electronic systems. The $500 million contract includes control system supporting air operations, military air traffic control. The 50-50 venture, Thales Raytheon Systems, will have between $500m and $700m of annual sales and 1,300 employees.
AVIONEWS - World Aeronautical Press Agency