Nexter Systems and Krauss‐Maffei Wegmann today signed an agreement to merge into a Franco‐German defence technology group with a 2 billion euro turnover, 9 billion euro order book and over 6,000 employees.
Nexter and its owners view this step as decisive for the consolidation of the defence technology industry in Europe. The product portfolios of the two companies and their regional presences on the world market complement each other.
In addition, it offers to its European and NATO customers the opportunity of increased standardisation and interoperability for their defence equipment, with a dependable industrial base.
Besides, this new strategic alignment makes it possible to retain jobs and skills in the heart of theEuropean Union. The two CEOs confirm that the alliance will have no social consequence or impact neither on employment nor on the collective agreements in place.
Whenever the new group would develop any consolidation project, this would be based on the principle of protecting the balance between the two operational companies as well as protecting their related technologies, know‐how and competences, in full compliance with the export regulations.
Nexter S. A. had been in the sole ownership of the French State holding company GIAT Industries S.A.; Krauss‐Maffei Wegmann GmbH & Co. KG had been in the sole ownership of Wegmann GmbH &Co. in Kassel. For the unification of the two companies, the sole owners are contributing their shares into a newly incorporated joint holding company based in the Netherlands.
They will each receive 50 per cent of the shares of this holding company, which will become the sole shareholder in KMW and Nexter.
The governance of the holding company will reflect the equal balance between the two shareholders with a long‐term industrial perspective.
The alliance project will be subject to legal and customary regulation approvals. As part of theFrench law for "activity, growth and equality of economic opportunities", article 47 allows for thetransfer of the majority of the capital of GIAT Industries SA and its subsidiaries. The association ofKMW and Nexter should enter into effect at the end of the year.
Rheinmetall and Krauss-Maffei Wegmann (KMW) have handed over the Puma infantry fighting vehicle to the German Bundeswehr today. The Bundeswehrs fielding of the Puma IFV gives its mechanized infantry a new main weapons system that will gradually supersede the Marder, first introduced over forty years ago
Krauss-Maffei Wegmann (KMW) has acquired Diehl Defence Land System from Diehl Defense under a contract announced on December 17. However, the contract is subject to approval by the antitrust authorities
Krauss-Maffei Wegmann (KMW) and Rheinmetall have concluded a cooperation agreement with the American companies Science Applications International Corporation (SAIC) and The Boeing Company in order to tender a joint bid for the development contract for the Ground Combat Vehicle (GCV) programme of the United States Army. This cooperation will see KMW and Rheinmetall acting as subcontractors with SAIC acting as the general contractor with regard to the procuring agencies
The German Federal Office of Bundeswehr Equipment and Krauss-Maffei Wegmann (KMW) have signed an agreement on the procurement of seven Leguan bridge laying systems on the Leopard 2 chassis. The project also includes transport systems as well as training simulators and ancillary equipment
Nexter Systems and Krauss-Maffei Wegmann (KMW) have closed the initial merger phase under a Dutch incorporated holding company. Two of the European manufacturers of military land systems based in France and Germany will operate jointly under the umbrella of a holding company under Dutch law with headquarters in Amsterdam, the companies said in a statement Tuesday
German armored vehicle manufacturer Krauss-Maffei Wegmann is not happy with French Nexters decision to appoint a new chief executive even as both the companies are planning for a merger. French financial daily, Les Echos Sunday reported Sunday that KMW opposes the appointment of Stephane Mayer as is new CEO replacing Philippe Burtin as the joint CEO
The German Federal Cartel Office, Bundeskartellamt today has cleared the merger of Wegmann and the French GIAT Industries. The companies plan to introduce a new joint venture by merging its two subsidiaries Krauss-Maffei Wegmann (KMW) and Nexter Systems in constituting 50:50 stakes
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