Defense Business - Defense-Update Newscast

cgparis2010

Anticipating a growth in the activity of its South African business,[link widoczny dla zalogowanych], Rheinmetall Waffen Munition (RWM) has teamed with its South African based subsidiary with Denel – Rheinmetall Denel Munition (RDM) to acquire the Laingsdale Engineering company of Cape Town, South Africa,[link widoczny dla zalogowanych], previously a division of Tellumat Pty Ltd. Under the new ownership RWM will have a majority interest of 51% in the new company,[link widoczny dla zalogowanych], with RDM holding the remaining 49% share.
The company provides precision mechanical manufacturing related to fuses, safe-and-arming devices,[link widoczny dla zalogowanych], kinetic energy weapons and a variety of naval applications. Laingsdale Engineering has about 180 employees and had sales in FY 2009 of approximately €10 million. The bulk of Laingsdale Engineering business is currently with RDM. The company expects to see its business volume double from the current figure. “We are excited about this acquisition which will enhance and grow our business in South Africa”,[link widoczny dla zalogowanych], said Norbert Schulze, CEO of RDM. “We have acquired a highly successful company which we have been working with for many years and with great success.” The new skills and capability base it is acquiring in precision mechanical manufacturing will enhance Rheinmetall’s current indigenous ammunition products.