John Cockerill Strengthens European Defence Ties with Arquus Acquisition

John Cockerill has completed the acquisition of French military vehicle supplier Arquus, underlining the growing importance of European defence cooperation.

This acquisition, initiated with Volvo Group in January 2024, adds another dimension to Franco-Belgian military synergy at a critical time for global security. The move is in line with the recent Franco-Belgian Memorandum of Understanding, demonstrating their commitment to joint defense efforts. Both nations have acquired a 10% stake in John Cockerill Defense.

Financially, the transaction was arranged with Crédit Agricole CIB as sole financial advisor and financed by Crédit Agricole CIB, BNP Paribas Fortis and Société Générale Corporate and Investment Banking. This financial support reveals confidence in the vision driving this acquisition.

The VBMR-Griffon vehicle will be purchased from Nexter, Arquus and Thales (as part of a joint program) by the French Ministry of Defense. It will replace the armored vehicles currently in use, as highlighted in GlobalData’s report “The Global Military Land Vehicles Market 2023-2033.”

Other ongoing development work for French-Arquus’ armored vehicles includes Arquus securing a €120 million ($130 million) contract from DGA to deliver 70 next-generation 8×8 transport vehicles between 2024 and 2030. Designed for logistical support and transport, the vehicles will gradually replace existing models in the French armed forces.

Integration of Arquus military vehicles with Cockerill weapon systems aims to provide solutions for land forces worldwide. By 2026 John Cockerill Defence has an ambitious target of €1 billion annual turnover and plans to employ 2,000 professionals, expanding its global reach with bases in Belgium, France, India, Italy and Saudi Arabia.

Arquus has unveiled two new military vehicles, the MAV’Rx and the DRAILER, at Eurosatory 2024, marking its entry into the unmanned technology sector while targeting global markets, particularly in the Middle East and Europe.

As John Cockerill Defense integrates Arquus into its operations, the defense industry can expect to see combined offerings, such as vehicles equipped with light tank turrets, that will enhance the capabilities of land forces around the world.

The acquisition of Arquus by John Cockerill is a landmark event in European defence, illustrating a proactive approach to regional security and cooperation. As the newly integrated entity moves forward, it promises to deliver military solutions and strengthen the Franco-Belgian defence partnership.

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