Tuesday, January 24, 2012

KMW buys Armoured Vehicle Manufacturer

BONN — German tank maker Krauss-Maffei Wegmann (KMW) has reached an agreement with the EDAG Group to take over its production of armored civil vehicles.
KMW announced the deal Jan. 23, saying the purchase of the German automotive development specialist still requires approval by the cartel authorities.
The acquisition is a move by KMW to strengthen its role in the market for protected military wheeled and tracked vehicles using EDAG’s technologies, as well as developing activities in the highly protected civil vehicles sector.
The acquisition also complements KMW’s strategic activities to establish itself in Central and South America. EDAG manufactures its protection systems at sites in Ingolstadt, Germany, as well as a facility in Mexico.
“The extension of our numerous protection activities through the EDAG protection branch is a logical step and, with a view to the site in Mexico, a consistent continuation of our Central and South America strategy,” Frank Haun, chief executive and president of KMW, said in a press statement.
The EDAG protection business develops and integrates ballistic protection systems for civil vehicles produced by a range of global manufacturers

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