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Germany and France to merge torpedo activities
France and Germany are holding talks to try and consolidate their respective torpedo capacities and hope to make an announcement before the end of this year. Patrick Boissier, chief executive of France's naval systems company, DCNS, revealed the information yesterday (Tuesday) while addressing the annual meeting of senior military officials, parliamentarians and industrialists known as the Defense Summer University. The idea, he said, would be to establish a joint venture which would be held 50/50 by France and Germany.