Nexter Systems and Krauss-Maffei Wegmann joint venture

Overview:

• Nexter Systems, the state owned land defence system company held by GIAT Industries, merged with German counterpart Krauss-Maffei Wegmann (KMW), held by Wegmann. 
• Nexter raised €1.1 billiion in sales in 2014, the year before the merger, and KMW €750 million. 
• Both companies produce armoured vehicles, artillery, ammunition and defence systems. 
• The companies merged by setting up a a joint Dutch based holding company, Honosthor, of which they both received 50%. 
• This was the largest consolidation within the defence sector in Europe since the creation of Airbus. 

John Crabb - Journalist