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Business/Financial

Krauss-Maffei Wegmann, Nexter Systems, Form Defense Technology Group Alliance

Defense Daily Staff

Tuesday, July 1st, 2014

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Krauss-Maffei Wegmann, Nexter Systems, Form Defense Technology Group Alliance

The owners of Germany’s Krauss-Maffei Wegmann (KMW) and France’s Nexter Systems (Nexter) on Tuesday signed a Heads of Agreement joint holding company to share the path ahead. The umbrella alliance creates a Franco-German defense technology group with a current annual turnover nearing $2.7 billion, an order book of around $8.8 billion, with more than 6,000 employees. It is expected to be complete in 2015. KMW, Nexter and their owners view this step as decisive for the consolidation of the defense technology industry…

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