December 3, 2023

The Thales logo appears on a company building in Brest, France, March 14, 2022. REUTERS/Stephan Mahe

Register now to get free unlimited access to

PARIS (Reuters) – French defense and technology group Thales on Monday announced a partnership with EXPAL Systems to provide materials for the Australian military, as France and Australia aim to improve diplomatic ties after last year’s dispute.

French President Emmanuel Macron told Australia’s new prime minister, Anthony Albanese, last week he wanted to focus on the future as they try to rebuild ties badly strained by the former Australian prime minister’s decision to abandon a lucrative submarine contract with France. Read more

Thales Australia said its partnership with EXPAL will focus on naval munitions for the Australian Defense Force, as well as work on future technology for the Royal Australian Navy. Thales did not disclose any financial details of the deal.

Register now to get free unlimited access to

“This is a clear demonstration of the company’s long-standing commitment to developing and maintaining a durable, sustainable and resilient industrial munitions capacity for the Australian Defense Force,” said Corey Roberts, CEO, Thales Australia and New Zealand.

Relations between France and Australia soured last October when Australia canceled a multibillion-dollar order for submarines with the French military shipyard Naval Group – a unit of Thales – and opted instead for an alternative deal with the US and Britain.

Last month, the new Labor-led Australian government reached a 555 million-euro ($578.6 million) settlement for Naval Group, after the submarine order was cancelled. Read more

The French state owns a 25.7% stake in Thales, while the French company Dassault Aviation (AM.PA) also owns a 24.6% stake in Thales.

(1 dollar = 0.9592 euros)

Register now to get free unlimited access to

(Report: Sudip Kar-Gupta). Editing by Kim Coogle, Robert Percell

Our criteria: Thomson Reuters Trust Principles.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *