Thales (formerly Thomson-CSF) and Raytheon have signed a landmark deal to create an air defence, command and control and ground-based radar unit - the first major defence joint venture between European and US companies. Co-owned Thales Raytheon Systems will launch in the first quarter, pending approvals. Ground surveillance radars, weapons systems and ATM activities are not included. The venture will employ 1,300 people, with sales of $500-$700 million.

Source: Flight International