The French defense group Thales recruits 12,000 men as orders soar

PARIS, Feb. 26 (Reuters) – French defense and technology group Thales (TCFP.PA) plans to hire 12,000 new employees this year as there is strong demand for all its products, CEO Patrice Caine said in a statement. interview with the French weekly Le Journal du Dimanche.

He said Thales, which has a total of 80,000 employees, 40,000 of them in France, has been recruiting 5,000 to 8,000 people a year for the past eight years and that it already hired 11,500 new employees last year.

Caine said all of the company’s businesses — defense and security, aerospace, identity and digital security — were growing strongly.

“The company is a reflection of its markets, all of which are experiencing dynamic growth, with growing needs across our businesses,” he said.

Caine, who recently met with Ukraine’s defense minister, said France would deliver its Ground Master 200 radar air defense system to Ukraine in May.

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Since the beginning of the Russian invasion of Ukraine on February 24, 2022, shares of Thales (TCFP.PA) – Europe’s largest weapon electronics supplier – have risen nearly 60% to new all-time highs, outperforming the Refinitiv Europe Aerospace & Defense index ( .TRXFLDEUPUI11).

President Emmanuel Macron said in January that French military spending will increase by more than a third in the coming years, with the military budget for 2024-2030 rising to 413 billion euros ($447 billion), up from 295 billion euros in 2019 -2025 period during which the army adapts to a new security environment after the Russian invasion of Ukraine.

Report by GV De Clercq; Edited by Frank Jack Daniel

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