Information  X 
Enter a valid email address

Thales (0HSR)

  Print      Mail a friend

Friday 31 August, 2001

Thales

Disposal

Thales
31 August 2001



                                                         Paris, 31 August 2001


                             Thales sells Fibre Form and

                          Uralite subsidiaries to BI Group


As part of an ongoing review of its portfolio of businesses, Thales announces
that it has completed the sale of its subsidiaries, Fibre Form Limited and
Uralite (North America) Inc. (together 'Fibre Form'), to the BI Group plc.


The transaction, in which BI Group has acquired the shares of the entities
sold, represents a further step in Thales' process of divesting non-core
businesses.


With revenues of approximately 7.5 million euros in 2000, Fibre Form
manufactures polyurethane moulded components principally for niche automotive
applications. Acquired by Thales as part of Racal Electronics plc in 2000,
Fibre Form has its main manufacturing base in the West Midlands and operates a
warehouse and minor assembly facility in Canada.  Fibre Form has about 90
employees.



Thales is a global electronics company serving Aerospace, Defence and
Information Technology markets worldwide.  With operations in more than 30
countries and 65,000 employees, the Thales Group had revenues of Euro8.6
billion (£5.3 billion) in 2000.



BI Group Plc is the parent corporation of an international group of specialist
engineering companies. The Groups operations are focussed on worldwide niche
markets employing over 2000 employees and operating from locations in 14
countries.



The acquisition of Fibreform provides a platform for growth in the Commercial
Vehicle markets in Europe and North America. This complements a leading
position already established by the Groups Plastic Division of single source
supply into the niche passenger sectors.



Press contacts :

Thales

Matt Pothecary

Tel: +33 (0) 1 53 77 86 26



BI Group plc

Duncan McDougall

Tel: +44 (0)1 543 466021




                                                              

a d v e r t i s e m e n t