Thales Scuttles Takeover Rumor

 - March 30, 2007, 7:40 AM

Danis Ranque, CEO of European electronics conglomerate Thales, insisted last month that the company is not likely to be the object of a merger or takeover, contrary to some speculation in the financial press. He said Thales posted a 7-percent improvement in operating income last year, driven by a 16-percent gain in defense electronics sales. A 5-percent increase in revenue at Thales Avionics, a maker of glass cockpits, cabin-entertainment systems and head-up displays, also contributed to the recovery. Thales recently introduced an integrated avionics system for business jets called Top Deck and is currently working with Bombardier and CMC Electronics to certify an infrared enhanced-vision system in the Global Express.