Thales Australia has applied to Australia’s Foreign Investment Review Board (FIRB) to purchase the 50% of Australian defence contractor ADI held by Transfield Holdings, in a move that would give Thales full ownership. ADI has sales of A$700 million ($560 million) and its aerospace activities include bidding with Israel’s Elbit Systems for the Australian Department of Defence’s JP129 tactical unmanned air vehicle. Full ownership of ADI would result in greater investment in research and development and improved skills in the country, says Thales Australia chairman Paul McClintock. “The move will enable Thales Australia to integrate ADI’s skills, investment and knowledge with those of our existing businesses,” he says. Transfield has been seeking to divest its stake in ADI for some time and approves of a deal with Thales.

Source: Flight International