Krauss-Maffei Wegmann Completes Take Over Of EDAG Group

  • 12:00 AM, January 24, 2012
  • 5314
Krauss-Maffei Wegmann (KMW), the German tank maker, has reached an agreement to take over production of EDAG Group’s production of armored civil vehicles. The duo reached an agreement on Jan 23 with KMW saying the purchase still requires approval by the cartel authorities. KMW made the acquisition to strengthen and develop its protected military wheeled and tracked vehicles, using EDAG’s technology, as well as extend its role in the highly protected civil vehicle sector. KMW’s goal of establishing itself in Central and South America will be established with ease now since EDAG’s manufacturers its systems at sites at a facility in Mexico as well as Ingolstadt, Germany. “The extension of our numerous protection activities through the EDAG protection branch is a logical step and, with a view to the site in Mexico, a consistent continuation of our Central and South America strategy,” Frank Haun, chief executive and president of KMW, said in a press statement.
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