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Care to explain Proxy company?

CaraFawn · 2009-07-27 15:22:40

I am trying to understand this: Thales Communications is a wholly-owned subsidiary of the Thales Group of companies, an international electronics and systems group serving defense, aerospace, services, and security markets. The Group employs 68,000 people throughout the world and generated revenues of $18.6 billion in…

27-07-2009 3:22pm

#1

CaraFawn

Closed Accounts Posts: 314 ✭✭

Join Date: August 2008

Posts: 263

I am trying to understand this:

Thales Communications is a wholly-owned subsidiary of the Thales Group of companies, an international electronics and systems group serving defense, aerospace, services, and security markets. The Group employs 68,000 people throughout the world and generated revenues of $18.6 billion in 2008. As a U.S. proxy company, Thales Communications is 100% American and, therefore, free of "foreign ownership, control and influence." Our access to Thales Group resources enables us to leverage our collective technologies in the military and civil markets to design, develop, provide, and support low-risk, reliable, fully-integrated solutions to our customers. Thales Communications also serves as a principal gateway for introducing innovative technologies into the U.S. defense and electronics markets.

Thales Group is a french company. So if Thales Communications is "wholly-owned", meaning 100% owned by a French company, how come it is " 100% American and, therefore, free of foreign ownership, control and influence."

I suppose the answer relies in the "Proxy" name itself.
I am just a bit confused with this.

Can anyone who actually knows what that means care to explain?

Cheers

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