Two Contractors May Rescue Ferranti: Two of...

Two Contractors May Rescue Ferranti: Two of Europe’s biggest defense electronics contractors, Thomson-CSF of France and British Aerospace PLC, said they were considering a bid to rescue Britain’s troubled Ferranti company. Thomson-CSF and British Aerospace, in a statement released in Paris and London, said an offer would aim to uphold Ferranti’s position as a principal British defense equipment supplier. Ferranti International Signal PLC last month said it was the victim of serious fraud involving phantom contracts which would cause it to write off $300 million. The company, which specializes in military electronics, said the costly fraud involved contracts of its U.S. subsidiary, ISC Technologies, based in Lancaster, Pa.