Germany has approved the merge of German Company KMW and French Company Nexter 10512152

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Defence & Security Industry News - France / Germany
 
Germany has approved the merge of German Company KMW and French Company Nexter.
The German government has approved a merger of German tank maker Krauss-Maffei Wegmann (KMW) with the French armoured vehicle maker Nexter, the economy ministry said on Friday, December 4, 2015. Nexter and KMW could to become in the near future the European leader in land weapons and armoured vehicles.
     
The German government has approved a merger of German tank maker Krauss-Maffei Wegmann (KMW) with the French armoured vehicle maker Nexter, the economy ministry said on Friday, December 4, 2015. Nexter and KMW could to become in the near future the European leader in land weapons and armoured vehicles. German government has approved a merger of German tank maker Krauss-Maffei Wegmann (KMW) with the French armoured vehicle maker Nexter.
     

"The government of Germany has checked the request, the permission was granted," a spokesman for German Economy Minister Sigmar Gabriel said.

Nexter Chairman Philippe Burtin and KMW Chairman Frank Haun announced a year ago their plan to form a 50:50 joint venture with a holding company named KMW and Nexter Together, or KANT. The company will be based in Amsterdam.

The joint venture will have combined annual sales of almost €2 billion (US $2.2 billion).

With ten complementary business lines , Nexter Group specialises in a wide range of land defence systems. In addition to land forces, Nexter also addresses the requirements of air and naval forces.

French Company Nexter applies its expertise in land defence systems to meet the needs of the French army and other forces internationally. The scope of its business includes the supply of weapons systems and ammunition for Army, Air Force, Navy and law enforcement applications. Today, it equips more than hundred of armies all over the world.

Nexter Systems is the manufacturer of one of the most modern main battle tank in the world, the Leclerc and the wheeled self-propelled howitzer CAESAR.

German Company Krauss-Maffei Wegmann GmbH & Co. KG (KMW) leads the European market for highly protected wheeled and tracked vehicles. The armed forces of more than 30 nations worldwide rely on tactical systems by KMW.

KMW is the manufacturer of the famous Leopard main battle tank family. The Leopard 2 is used by 16 nations worldwide. Late in 2015, Qatar will take delivery from German company Krauss-Maffei Wegmann of the first of 62 Leopard 2A7+, the latest generation of main battle tank from the Leopard MBT family.