Facing a flat sales outlook and bleak budget environment, European defense companies are looking to streamlined operations and targeted acquisitions to help sustain profitability. The hardest hit is Thales, which even before it started to run into headwinds a year ago—the result of serious program and bidding management issues—was already trailing behind its peers in profitability. In preliminary results posted last week, the Paris-based aerospace and defense contractor reported it was ...


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