RHEINMETALL'S MOVE IN THE UK NUDGES EUROPEAN-WIDE SHAKEUP

摘要

The consolidation of Europe's fragmented armored-vehicles market inched forward this month as Rheinmetall took control of BAE Systems' U.K. activities in the sector. The two land-systems giants pressed the start button July 1, consummating a joint venture agreement that gives the German company a 52 percent stake in a new U.K. operation known as Rheinmetall BAE Systems Land. Rheinmetall said in a statement accompanying the announcement that it was "continuing to pursue a strategy of industrial consolidation" with the joint venture. One industry executive, who spoke on condition of anonymity, said: "There are some concerns in the British supply chain, but generally it's a good deal for BAE, as it brings work into their Telford site; and it's obviously a very good deal for Rheinmetall, as it gives them a footprint in the U.K. I think it was what the U.K. government were encouraging, as well - they have always been keen to invite in primes with deep pockets."