Germany’s Wegmann Group has acquired Siemens AG’s 49-percent stake in armored vehicle manufacturer Krauss-Maffei Wegmann GmbH, establishing Wegmann as the sole shareholder of KMW once the acquisition is approved by the German authorities.
For Siemens, active mostly in the industrial infrastructure and utilities sector, defense manufacturing was not a strategic business. “This step gives us, our products and most importantly our employees a clear and positive outlook of future sustainable success.” Commented Frank Haun, chief executive officer of KMW.
Among ongoing programs at KMW are the FENNEK family of reconnaissance vehicles, the DINGO 2 armored mine protected vehicle, as well as heavy protected transport vehicles, co-production of the PUMA infantry fighting vehicle BOXER armored personnel carrier, both produced under cooperation with other companies. The company is also responsible for maintenance and modernization of the LEOPARD tank, and Panzerhaubitze 2000 tracked self-propelled howitzer, in service with the German Army as well as international military forces
