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Wednesday, May 05, 2010

Thales: Result of the arbitration with the Republic of China (Taiwan)

ThalesThales has been notified of the award handed down on 3 May, 2010, in the arbitration against the Republic of China (Taiwan).

This award has been made as a result of an alleged breach of the terms pertaining to the use of intermediaries contained in a contract entered into in 1991 by Thomson-CSF (now Thales) for the supply of six Lafayette frigates to Taiwan.

The total amount of the award is set to 482 million US dollars and 82 million euros, bearing interest as from August 2001; as well as around 15 million euros, bearing interest as from today, i.e. a total of around 630 million euros (including interest).

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