Rheinmetall takes over the defence operations of Italy's SEI SpA, widening its lead in the European defence technology industry
03/25/2010
Expanding its portfolio and simultaneously strengthening its position as one of Europe's leading suppliers of defence technology systems, the Rheinmetall Group has agreed with France's EPC Group to take over the defence business operations and assets of its Italian subsidiary Società Esplosivi Industriali SpA (SEI). Rheinmetall will continue to pursue SEI's defence activities, i.e. developing and manufacturing ammunition, under the name RWM Italia Munitions S.r.l..
The takeover will become fully effective once the relevant Italian authorities have granted permission. The parties have agreed not to make public the purchase price.
This move reinforces Rheinmetall's position as a major supplier of military equipment in Italy and Europe, expanding the Group's in-house capacity thanks to SEI's state-of-the-art production facilities. In particular, the acquisition is strategically significant owing to the Italian company's prominence as an international supplier of aircraft ammunition and underwater defence systems, areas in which Rheinmetall is seeking an expanded role.
In fiscal 2009, SEI's 115 employees generated sales of around €20 million. The company is headquartered in Ghedi (BS) in northern Italy and has a production plant in Sardinia at Domusnovas.
Rheinmetall is one of the most trusted names in the global defence and security industry. In 2009, Rheinmetall Defence’s roughly 10,000-strong staff generated sales of approximately €1.9 billion.
The Group's Weapon and Munitions division supplies an extensive array of products in the medium- and large-calibre domain. The spectrum ranges from aircraft cannon for the Eurofighter to medium-calibre guns for naval vessels and infantry fighting vehicles as well as the main armament for the Leopard tank, including the accompanying ammunition.
Contact
Rheinmetall AG
Corporate Sector Defence
Press and Information
Oliver Hoffmann
Rheinmetall Platz 1
40476 Düsseldorf
Germany
Phone: +49 211 473-4748
Fax: +49 211 473-4157
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