British Aerospace and Dassault yesterday formed a joint venture, European Aerosystems, Ltd., "with the objective of developing enabling technologies for current and future combat aircraft," in the words of the partners' joint statement. Based in BAe's military aircraft division, the new venture formalizes a technology exchange agreement made between the two fighter builders in l992. It's regulated by an Anglo-French memorandum of understanding signed by the two governments in January 1987.

Seen as an important step in the gradual harmonization of European R&D work to meet multi-national defense requirements, European Aerostructures will have a number of full-time employees supported by colleagues from the two partner companies working in co-located teams in both Britain and France.