Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

French Defense Merger




PARIS -- Leading French aerospace companies said Wednesday they had drawn up a pact paving the way for a domestic defense consolidation.


The accord - which sets out areas of cooperation and competition in missiles, electronics and satellites - clears up problems generated by a plan to merge Aerospatiale and Lagardere group's Matra High Technology unit.


That merger aims to prepare France for a wider European industry rationalization.