Poised to become a complete supplier of protection technologies, Rheinmetall takes up a majority stake in Verseidag Ballistic Protection GmbH
The Düsseldorf-based Rheinmetall Group has taken up a majority share in Verseidag Ballistic Protection GmbH of Krefeld, Germany, giving it future control of an important supplier of civilian and military protection technology. This move is set to make Rheinmetall a complete supplier of protection systems for tactical vehicle manufacturers and carmakers.
Rheinmetall has now signed a contract with Jagenberg AG to take over a 51% share of Verseidag Ballistic Protection GmbH; Jagenberg will continue to hold a 49% stake in the company. The acquisition still requires approval from the competition authorities. The companies of Verseidag's "Personal Protection" division, based in Finland and the USA, will remain entirely in Jagenberg hands.
Already one of Europe's top suppliers of military equipment, the takeover reinforces Rheinmetall's expertise in the field of ballistic protection, which, in addition to vehicle armour, will now extend to systems for helicopters and ship superstructures. The buyout strengthens Rheinmetall's sales structure in this sector, giving the company greater access to important markets for protection technologies all over Europe.
Products from Verseidag Ballistic Protection GmbH make it possible to protect the crews of civilian and military vehicles, aircraft and ships from ballistic threats and explosive devices. The Krefeld-based company specializes in developing and producing advanced metal and ceramic materials as well as special textile fabrics specifically designed to deliver maximum survivability.
Among Verseidag Ballistic Protection GmbH's customers are well-known tactical vehicle and automobile makers from Germany and abroad. The company, which has 54 employees, generated sales in 2009 of around €21 million.
Rheinmetall is one of the most trusted names in the global defence and security sector. Last year, Rheinmetall Defence's 10,000-strong staff produced sales of approximately €1.9 billion.
Offering a wide array of protection technologies, Rheinmetall makes an important contribution to force protection. The spectrum ranges from passive protection systems (vehicle armour) and active protection solutions (decoys, multispectral decoy launchers) for ground, air and naval applications, through to armoured vehicles, systems for protecting high value infrastructure as well as sophisticated air defence solutions.
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