Thales has announced that it was dissolving its joint venture with Hanwha in South Korea.
This 50/50 operation, which began as Samsung Thales in 2000, was subject to Hanwha’s takeover of Samsung’s defence wing in June 2015.
The joint venture had originally been created to focus on the defence electronics sector in South Korea. Products cooperatively developed include radars, electronic warfare systems, fire control systems, combat management, guided weapons, optronics and radios.
During this takeover process of Samsung that was completed last year, ‘Hanwha and Thales negotiated a put/call option on Thales’ shares in their jointly owned company,’ Thales said.
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