Dassault Aviation will carry out its planned split into civil and military subsidiaries by the end of the year, with the new entities to be known as Dassault Falcon and Dassault Defense, the company has revealed.
President Serge Dassault says the business will continue to maintain a strongly independent stance, despite Aerospatiale's acquisition of a 45.76% stake last year, adding: "We are not prepared to sacrifice ourselves to the fashion for mergers." His Dassault Industries group retains a 49.9% stake in Dassault Aviation, with 4.34% publicly held.
Finance vice-president Charles Edelstenne says the civil/defence split will bring "improved competitiveness and more flexibility", preparing the ground "to look for alliances".
Dassault Aviation made a net profit, excluding minority interests, of Fr1.51 billion ($250 million) last year on sales of Fr20.22 billion, with orders of Fr32.98 billion recorded.
Dassault looks set for another good year in 1999, with France poised to order 48 Rafale fighters, and sales of Falcon business jets expected to remain strong, although overall sales may fall, given last year's record performance.
Source: Flight International
