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.
The sole shareholders of each of the two companies have transferred all their shares into the holding company who will operate in the legal form of an N.V.; in return they have each received 50 per cent of the shares in the umbrella company.
As part of the completion, the supervisory board of the joint holding company has also met in Amsterdam for its constitutive meeting. It comprises seven members and is chaired by the Belgium national, Christian Jourquin. The French owner appointed Jean-Severin Deckers (APE-State Holding Agency) and Bertrand Le Meur (DGA-French defense procurement agency) to the supervisory board; the owners of KMW appointed Dr. Manfred Bode and Axel J. Arendt.
Alongside the independent chairman of the supervisory board, both shareholders appointed Antoine Bouvier (CEO of MBDA) and Prof. Dr. Dr. Utz Hellmuth Felcht onto the board as additional independent members.
The supervisory board appointed the new CEO of Nexter Systems, Stéphane Mayer, and the chairman of the executive board of KMW, Frank Haun, as CEOs of the holding company.
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
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 Indian company PEL, active in the field of explosives and solid propellants, and the French defense company Nexter, specialized in land systems and ammunition have decided to tie-up for manufacturing Bi-Modular Charge Systems (BMCS) in order to respond to the needs of the Indian Ministry of Defense. The partners decided to answer to the BMCS RFP relative to a 10 year contract by manufacturing in India, combining the experience of Nexter with the pyrotechnics knowledge of PEL
Krauss-Maffei Wegmann (KMW)-Rheinmetall joint venture ARTEC has signed agreements with UK based BAE Systems, Pearson Engineering and Thales companies offering 60 percent of workshare if UK selects BOXER Infantry Fighting Vehicle (IFV)for Armys next generation Mechanised Infantry Vehicle (MIV) program. According to the agreements, at least 60% of BOXERs value creation and 100% of final assembly will take place in Britain
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