The Belgium-based John Cockerill, a key participant in gentle tank expertise and simulation methods, has entered an unique settlement with the Volvo Group to amass Arquus, France’s main army automobile provider.
This proposed acquisition is poised to fortify John Cockerill’s world place within the land protection market and diversify its product vary to embody a big selection of superior, high-mobility wheeled army autos.
The consolidation of John Cockerill Protection and Arquus goals to realize an annual turnover of €1 billion and make use of 2,000 professionals globally by 2026. With operational bases in Belgium, France, Italy, India, and Saudi Arabia, the consolidated entity is about to grow to be a big participant on the world stage.
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This strategic transfer not solely helps the collaborative automobile sourcing packages between the French and Belgian land forces but additionally marks an important step towards the creation of a European protection champion. Positioned to cater to the evolving wants of governments in Belgium, France, Germany, and different accomplice international locations, the merged capabilities of John Cockerill and Arquus promise extra modern and aggressive options.
François Michel, CEO of the John Cockerill Group, emphasised the transformative nature of this acquisition, significantly within the area of sunshine tanks. The synergy between John Cockerill Protection and Arquus is predicted to yield autos that aren’t solely extra modern but additionally extra aggressive, assembly the calls for of land forces globally.
It’s vital to notice that the completion of this transaction is contingent upon customary circumstances, together with works council consultations and regulatory approvals. If profitable, this acquisition will mark a big milestone within the European protection business.