| Type | Société Anonyme |
|---|---|
| Traded as | Euronext: HO |
| Industry | Aerospace, defence, IT |
| Founded | 6 December 2000 |
| Headquarters | Neuilly-sur-Seine, France |
| Key people | Luc Vigneron (Chairman and CEO) |
| Products | Tactical radios, remote weapon systems, radar, infantry mobility vehicles |
| Revenue | €13.12 billion (2010)[1] |
| Operating income | (€173.3 million) (2010)[1] |
| Profit | (€107.6 million) (2010)[1] |
| Total assets | €19.02 billion (end 2010)[1] |
| Total equity | €3.681 billion (end 2010)[1] |
| Employees | 63,730 (end 2010)[1] |
| Subsidiaries | Thales Communications, Thales Air Defence, Thales Underwater Systems, Thales Nederland, Thales Australia, Thales Training & Simulation |
| Website | www.thalesgroup.com |
The Thales Group is a French electronics company delivering information systems and services for the aerospace, defense, transportation and security markets. The headquarters are in Neuilly-sur-Seine (in the suburbs of Paris),[2] and its stock is listed on the Euronext Paris.
The company changed its name to Thales from Thomson-CSF in December 2000 shortly after the £1,300 million acquisition of Racal Electronics plc, a UK defence electronics group. It is now partially state-owned by the French State, and has operations in more than 50 countries. It has 68,000 employees and generated €13.1 billion in revenues in 2010. The Group is ranked as the 475th largest company by Fortune 500 Global[3], is the 11th largest defence contractor in the world[4] and 60% of its total sales are military sales.[5]
Significant changes have occurred since the largest private shareholder, Alcatel, sold its stake in Thales to Dassault. The CEO for many years, Denis Ranque, was replaced by Luc Vigneron (formerly of the much smaller state-controlled armoured vehicle manufacturer Nexter) who has initiated an extensive re-organisation.
The Thales Group is named after the Greek philosopher Thales.[6] The company is pronounced [taˈlɛs].
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Thales' predecessor, Thomson-CSF, evolved from Compagnie Française Thomson-Houston (CFTH), which was established in 1893. However Thomson-CSF itself was established in 1968 when Thomson-Brandt (the renamed CFTH) merged its electronics arm with that of Compagnie Générale de Télégraphie Sans Fil (CSF).
Thales formed a joint venture with Raytheon in June, 2001 to combine their radar and communications systems divisions. Named ThalesRaytheonSystems, the firm is 50% owned by both parent companies.
In 2002 Thales set up the joint venture company Armaris with the French shipbuilder DCN to offer a total "bottom up" shipbuilding capability.
In 2002, Thales Broadcast Multimedia, a former subsidiary of Thales, provided China with standard short-wave radio-broadcasting equipment designed for general public radio-broadcasting. Although the contract was not at all for the purpose of jamming foreign radio stations broadcasting to China, it now appears that this is what the ALLISS antennas are being used for.
In 2003 Thales UK's design won the competition for the Royal Navy Future Carrier (CVF) and the company now participates in an alliance company with BAE Systems and the UK Ministry of Defence. This Thales design may form the basis of the Future French aircraft carrier which the company has agreed to build with DCN.
In 2006 Thales acquired Australian Defence Industries, a major manufacturer of military equipment such as smokeless gunpowder and the Bushmaster IMV.
In April, 2006, Thales announced it would be acquiring Alcatel's space business (67% of Alcatel Alenia Space and 33% of Telespazio), and Alcatel's Rail Signalling Solutions division in a deal which also raised Alcatel's ownership of Thales to 21.66 percent. The French government would also decrease its ownership in Thales to 27.1 percent from 31.3 percent as part of the acquisition. According to an Alcatel Press Room Web page of April 5, 2006, the deal would also include the Systems Integration activities (those not dedicated to telecoms operators, and covering mainly the transport and energy sectors). In December 2008, Alcatel agreed to sell a 20.8% stake in French engineering group Thales SA to Dassault Aviation SA for €1.57 billion ($2.27 billion).
Thales Group has made many electronic devices and equipment used by the French Armed Forces from its past as Thomson-CSF, including the SPECTRA helmet for the army and the gendarmerie. It has worked with Dassault Aviation on the Rafale and made its SPECTRA defensive aids. Thales often worked with DCNS and designed the electronics used on French ships, and it is involved in the construction of both the Horizon and FREMM programs. Thales, as Thomson-CSF, was involved in the Taiwan frigates scandal, relating to the sale of La Fayette class frigates to Taiwan. It is also present in Eurosam as Thomson-CSF was a founder of the consortium along Aérospatiale and Alenia Aeronautica. In February 2004, Thales was awarded a contract for a new command and control system for the French Navy, the SIC 21, that will be fitted on the Charles de Gaulle, many vessels and shore locations. Additionally, the Future French aircraft carrier involves Thales as the main designer of the ship. Thales is also working on X-ray imaging, finances, energy and operating commercial satellites.
Thales' international subsidiaries generated 52% of the company's revenue in 2008, with Thales UK being the largest of these accounting for 13% of group revenue.[7] Its large presence in the UK (largely as a result of the Racal acquisition) has resulted in several high profile contracts.
The company's design won the competition for the Royal Navy Future Carrier (CVF). It is part of the AirTanker consortium, the winning bid for the RAF's Future Strategic Tanker Aircraft. Thales UK won the contract for the British Army UAV programme, Watchkeeper. It also produces the SWARM remote weapon station.
Thales Air Defence produces a range of short-range missile systems such as the Starstreak surface-to-air missile.
Thales has major involvement in the UK rail industry as a result of the Racal merger and the 2006 acquisition of Alcatel's Rail Signalling Solutions division and transport business.[8] Thales holds contracts worth £480 million for providing new signalling for the London Underground.[9]
Thales, as part of the Soteria SAR consortium have been selected as the Preferred Bidder for the 25-year contract to provide civilian Search and Rescue throughout the United Kingdom.[10]
Thales is also a major manufacturer of in-flight entertainment systems on board airliners. Thales' primary competitors in this area of business include Panasonic Avionics Corporation, Rockwell Collins, and LiveTV (originally owned by Thales, now owned by JetBlue).
Thales Navigation, a division that produced GPS units, was sold to private equity group Shah Capital Partners and renamed Magellan.
Thales' major shareholders are the French state (27.0%) and Dassault Aviation (25.9%).[11]
Michel Josserand alleged that Thales had a centralized slush fund that it used to bribe officials.[1]
Schabir Shaik, the financial advisor to the president of the African National Congress party Jacob Zuma, was also found guilty of organising a bribe on behalf of Thales.[2]
Thales Group Profile [3]
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