Thales Australia and General Dynamics Ordnance and Tactical Systems Announce Long-Term Strategic Teaming Agreement

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Feb 23, 2011, 03:46 ET

FT. LAUDERDALE, Fla., Feb. 23, 2011 /PRNewswire/ -- Thales Australia and U.S.-based General Dynamics Ordnance and Tactical Systems have signed a long-term strategic teaming agreement to cooperate in the Australian ordnance market.

The agreement formalizes many years of close cooperation between Thales and General Dynamics, cements Thales's ability to deliver domestic munitions products to the Australian Department of Defence, and enables a refreshed approach to the munitions business in Australia, including the potential for greater exports.

Under the 10-year agreement, General Dynamics will deliver significant technology transfer to Thales in Australia, while Thales will leverage its U.S. partner's expertise to focus on delivering maximum value to Australian Defence through its existing munitions contracts.

Chris Jenkins, Thales Australia's CEO, said: "This teaming agreement reinforces both our commitment to modernizing the products on offer in Australia, and our dedication to delivering savings and greater value for money to the customer under Australia's Strategic Reform Program, while bringing new benefits to the Australian Defence Force."

Michael Wilson, President of General Dynamics Ordnance and Tactical Systems, said: "Thales and General Dynamics already have a strong working history. This agreement will see increasingly close cooperation between the companies, and is a significant extension to our current arrangements for the Australian, European and U.S. markets."

About Thales

Thales is a global technology leader for the Defence & Security and the Aerospace & Transport markets. In 2009, the company generated revenues of euro 12.9 billion (equivalent of AUD 23 billion) with 68,000 employees in 50 countries. With its 22,500 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers as local partners. www.thalesgroup.com

Thales Australia is a trusted partner of the Australian Defence Force and is also present in commercial sectors ranging from air traffic management to security systems and services. Employing around 3,500 people in over 35 sites across the country, Thales Australia recorded revenues of more than AUD 1 billion in 2009.

About General Dynamic Ordnance and Tactical Systems

General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), is a world leader in the manufacture of large-, medium- and small-caliber direct and indirect-fire munitions, shaped charge warheads and propellants. It also manufactures precision metal components, and aerostructures in support of the tactical missile industry. More information on General Dynamics Ordnance and Tactical is available online at www.gd-ots.com.

General Dynamics, headquartered in Falls Church, Va., employs approximately 90,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.generaldynamics.com.

SOURCE General Dynamics