Article

2006-03-06 Down Under

Thales plans takeover of Australian defence firm

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Posted by lotp 2006-03-06 14:50|| || Front Page|| [5 views since 2007-05-07] Top

#1 Thales? This French company, 30% state owned?

From RB Archives on 9-26-2005:
French defense-electronics group Thales SA on Monday denied allegations from a fired company executive that it paid out millions of dollars in bribes and sold chemical weapons to the former Iraqi regime of Saddam Hussein.

"The Thales Group formally denies accusations of corruption in France and internationally, lodged against it by a former manager at THEC," the company said in a statement.

Michel Josserand, former chief executive of Thales Engineering and Consulting, or THEC, said in an interview with newspaper Le Monde that that the paying of bribes by Thales was widespread - in violation of French law and international conventions.

"I estimate that Thales must pay out between 1 percent and 2 percent of its global revenue in illegal commissions," he said. Thales posted revenue of 10.3 billion euros ($12.5 billion) for 2004.

He also said Thales had "sidestepped the (U.N.) Oil for Food Program and delivered chemical weapons to Saddam Hussein's government."

Posted by Danielle 2006-03-06 16:27|| 2006-03-06 16:27|| Front Page Top

#2 yup - that one.

Posted by lotp 2006-03-06 16:46|| 2006-03-06 16:46|| Front Page Top

#3 This is a lot more disconcerting than DPW.

Posted by Nimble Spemble 2006-03-06 16:50|| 2006-03-06 16:50|| Front Page Top

#4 Yeah - that's my take too.

Posted by lotp 2006-03-06 16:56|| 2006-03-06 16:56|| Front Page Top

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