A new merger in the German defense market. Krauss-Maffei Wegmann (KMW) has acquired the defense division of Blohm + Voss Industries.
KMW was the main customer of this division, which produced over 10,000 turret and hull structures for the Leopard tanks, as well as add-on armor for military vehicles designed by KMW. The transfer will be completed by 31st January, 2007, subject to the approval by the Federal Cartel-Office and settlement of interest with the representatives of its 2,800 employees.
This acquisition is the second transaction in the European armor market announced this week, following the acquisition of Danish armor specialist Roshield by the Dutch TenCate group.