Bombardier, the Canadian parent of Belfast aircraft maker Shorts, has sold its 50 per cent stake in a missile manufacturing company, safeguarding 500 jobs in Northern Ireland.
Thomson-CSF, which already owns half of Shorts Missile Systems, is taking over the remaining share at the end of January.
Bombardier president Robert E Brown said: "We believe the transfer of Bombardier's 50% share to Thomson-CSF is in the long term interests of SMS and its employees.
"SMS will be much better placed to realise its potential as a fully integrated part of the core activities of a large player in the global defence industry.
"The change in shareholder base will strengthen access to Thomson-CSF's electronics technologies and systems capabilities," said Thomson-CSF vice president Mr Mark Veron.
Earlier this month SMS won a £200 million contract - its largest ever order - to supply hi-tech Starstreak short-range missiles to the UK armed forces, which will underpin jobs in Belfast for the next five years.
SMS has supplied more than 60,000 weapons to 56 armed forces around the world in the past 40 years. It employs 50 people in France.
Its other flagship products are the very short range Starburst, the Aspic automatic firing post and the Samantha and Clara systems.
Bombardier employs 6,000 people in Northern Ireland in the design and manufacture of aeroplane components for Bombardier and other major plane-makers like Boeing and Airbus.
