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TRUCKMAKERS' NEWS * WORLDWIDE
* Germany - MAN and Rheinmetall merge military vehicle units
London, UK -The Financial Times, by Jeremy Lemer -January 12 2010: -- MAN, the truck maker, and Rheinmetall, the automotive and defence company, are to merge their military wheeled vehicle businesses... Rheinmetall MAN Military Vehicles will eventually have about 1,300 employees and revenues of more than €1bn after merging in two stages: first sales and development activities and then production at the end of 2011... But analysts noted that while consolidation in the fragmented European military vehicle sector was crucial to respond to overcapacity and defence budget cuts, the deal proved that domestic rather than international mergers would predominate... At present, MAN’s wheeled military business, which makes trucks for the UK’s Ministry of Defence among others, has sales of about €500m while Rheinmetall’s, which includes the Boxer armoured vehicle, has revenues of about €250m... (Photo from platforms-mil.de: Rheinmetall Boxer Armoured Personnel Carrier)
Labels: truckmakers' news worldwide
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