ADI now owned by Thales Australia
Renowned defence and electronics group Thales has been given the go ahead to acquire the remaining 50 per cent in leading local defence, systems and engineering company ADI.
For several years Thales has owned a 50 per cent share in ADI, but following a recommendation by the Foreign Investment Review Board, Treasurer Peter Costello approved the application by Thales Australia Holdings to acquire Transfield Holdings’ 50 per cent on October 13 this year .Thales and Transfield bought ADI in a joint venture from the Commonwealth in 1999.
ADI now joins other fully owned Thales subsidiaries Thales Air Traffic Management, Thales Underwater Systems and Thales Training and Simulation under the single organisation Thales Australia.
Thales Australia Holdings chairman Paul McClintock said the move would leverage Thales Australia as a globally competitive business by integrating skills, knowledge and talent locally and internationally.
“To become a more substantive competitor in the reshaped Australian defence industry and compete in the face of fierce global competition, the business needs access to global expertise, technology and supply chains,” said Mr McClintock.
Thales has already signed multi-million-dollar contracts in airspace management in China and has more recently made agreements with the Dutch army operating in Afghanistan to export Australian Bushmaster armoured troop carriers.
Worldwide, Thales currently employs 60,000 people in 50 countries and has generated revenues of $16 billion in 2005 with a record order book of more than $34 billion. Thales Australia, with 3500 employees and annual revenues of $900 million, is divided into six business groups: Naval, Land, Joint Systems, Defence Services and Aerospace, Air Systems and Civil.
Home > Industry news > ADI now owned by Thales Australia