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Feb 10, 2017

Renault Trucks Defense * France - Volvo will look for the highest bidder

* Paris - Global bidders line up for

--- Safran, an aeronautics equipment and defense company, is among European and American firms and investment funds that have considered bidding for Renault Trucks Defense, according to multiple defense sources. CMI, a Belgian builder of turrets and guns for armored vehicles; and three venture capital companies are among those which have also taken a look at RTD, the source said... There was talk of Safran's interest a couple of weeks before Volvo issued a Nov. 4 statement on a planned sale of RTD. Other companies included BAE Systems, General Dynamics, Patria-Kongsberg and Rheinmetall... RTD is a key company in the Volvo group's government sales unit, or VGGS, which the Swedish truck maker plans to sell off once staff consultations have been held. Other firms in VGGS include Acmat, U.S. truck-builder Mack, and Panhard, one of the oldest names in French motor industry... France may have a say, but Volvo is steered by market economics and will look for the highest bidder, a French political source said... The price for RTD is likely to be between €500-700 million (U.S. $533-747 million), or the equivalent of one year’s worth of sales, the first source said. Sales for this year are forecast at €600-€700 million, buoyed by a Canadian order won through Mack, and contracts for the French special forces, Kuwait, and Saudi Arabia to arm Lebanon... The acquisition price is usually eight to nine times operating profit, or one year’s worth of sales, the source said. The order book is worth €4-5 billion, offering six to seven years’ work...
(Photo: Sherpa Light SF Special Forces 4x4 armoured vehicle Renault Trucks Defense)   --  Paris, France - Defense News, by Pierre Tran - February 9, 2017

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