Two major French defense companies, GIAT Industries and SNPE will be merging into a singleventity. The two companies are both owned by the French state, which supports the move.
The mergerv will retain the activities, strategies and customer base of each company. By unifying complimentary activities the merged company will be able to shed redundant overhead. The merger is expected to be completed this year, with SNPE to be merged into GIAT Industries.
GIAT Industries is one of the largest defense companies in France, focusing in land systems and munitions. Its main asset is the holding of the French weapon manufacturer Nexter Systems. With turnover of 736 million Euros in 2012. SNPE, through its subsidiary Eurenco, is the European leader in propellant powders and explosives for civil and military use.
