Thales, Safran Plan Electro-Optical Joint Venture

Aerospace engine and equipment maker Safran and electronics specialist Thales said Dec. 20 that they signed a preliminary agreement to form a joint venture to develop and market new electro-optical military gear. "Thales and Safran today signed a memorandum of understanding to create an equally owned joint venture for optronics [electro-optical] systems and equipment," a statement from the firms said. A joint venture company will pilot common research and development efforts and marketing on future projects, but existing programs will continue to be run separately by Safran and Thales. The deal also includes a strengthening of the Sofradir infrared detector company, jointly owned by Safran, Thales and Areva, a state-owned nuclear energy company.