The Board of Directors of GIAT Industries, parent company of the Nexter Group, met last Thursday and approved the acquisition of all the equity of the SNPE with the aim of reinforcing and consolidating the industrial sector and also to strengthen Group supplies.

Ultimately, this merger will also promote European consolidation of the powder and explosives sector.

This project aims to develop Eurenco (a subsidiary of SNPE) and its expertise for the benefit of all its customers; in this respect it will preserve the autonomy of the SNPE subgroup with regard to Nexter Systems and its subsidiaries.

In order for this takeover to take effect in 2013, there still remain steps taken with competition authorities to be concluded as well as regulatory procedures to inform the employee representative bodies associated with them.

As the holding of Nexter Systems, GIAT Industries' mission is to meet the requirements of the French Army as well as other armies worldwide. GIAT has acquired unrivalled expertise in all the components of modern air-land systems: protection, command, mobility, fires, and support. GIAT Industries generated revenues of 736 million euros in 2012.
 
GIAT Industries equipment and customer's services (Main Battle Tanks (MBT), armored vehicles, artillery systems, munitions, information terminal systems, product support and upgrades) is in service in over 100 countries.