Krauss MaffeiWegmann and Nexter Systems have Completed their Association

Issue 65 - February 2016

After all required approvals have been obtained, Krauss MaffeiWegmann (KMW) and Nexter Systems have completed their association on 15 December 2015. From now on, two of the leading European manufacturers of military land systems based in France and Germany will operate jointly under the umbrella of a holding company under Dutch law with headquarters in Amsterdam. The sole shareholders of each of the two companies have transferred all their shares to the holding company in the legal form of an N.V.; in return they have each received 50 per cent of the shares in the holding.

As part of the completion, the supervisory board of the joint holding company has met in Amsterdam for its constitutive meeting. It comprises seven members and is chaired by the Belgium national, Christian Jourquin. The French owner appointed Jean Severin Deckers (APE State Holding Agency) and Bertrand Le Meur (DGA French defense procurement agency) to the supervisory board; the owners of KMW appointed Dr. Manfred Bode and Axel J. Arendt. Alongside the independent chairman of the supervisory board, both shareholders appointed Antoine Bouvier (CEO of MBDA) and Prof. Dr. Dr. h.c. Utz Hellmuth Felcht onto the board as additional independent members. The shareholders’ meeting appointed KMW CEO Frank Haun and the new CEO of Nexter Systems, Stéphant Mayer as Co. CEOs of the holding company.