Nexter Systems of France and KMW of Germany will sign today agreement to form a partnership 12907151

Defence & Security Industry News - Nexter / KMW
 
Nexter Systems of France and KMW of Germany will sign today agreement to form a partnership.
The Defence Companies Nexter of France and Krauss-Maffei Wegmann (KMW) of Germany will sign an agreement to form a 50:50 partnership Wednesday,July 29, 2015 the French Defence Ministry Jean-Yves Le Drian said.
     
The Defence Companies Nexter of France and Krauss-Maffei Wegmann (KMW) of Germany will sign an agreement to form a 50:50 partnership Wednesday,July 29, 2015 the French Defence Ministry Jean-Yves Le Drian said. Nexter Systems and Krauss-Maffei Wegmann could become the most important defence Company in Europe.
     

"Nexter Systems and KMW form a partnership to become the European leader in land military equipment and weapons ," the ministry said Monday during a press conference to the signing, which will be held at the Defence Ministry.

As Germany's Krauss-Maffei Wegmann (KMW) and France's Nexter prepared for sealing their long-planned merger and one of the biggest tie-ups in the defense sector globally in recent times, German opposition lawmakers on Tuesday voiced grave concerns about the deal.

The first project the merged company could be the development and manufacturing of a new generation of mian battle tank, to follow the Leopard 2 and Leclerc models, which could be ready by 2025.

KMW CEO Frank Haun said the merger of KMW and Nexter could also help create more harmonization among defense customers, compared with the current situation of countries having different standards or procurement cycles.

The merged company will be 50 per cent owned by the French government through GIAT Industries and 50 per cent by the Bode-Wegmann family, which owns KMW, according to a government document explaining the recent law change.

The document also says the law change allows for the privatisation of GIAT Industries but would guarantee the jobs of Nexter employees.
 

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