German 40 Percent Share in Military Producer KNDS Okayed

A Franco-German agreement made on June 22 gives the green light for the German government’s intent to buy into leading military producer KNDS with a 40-percent share, pending June 24 approval by the German budget committee. The purchase comes with the plan to build up two new construction sites with up to 5,000 workers combined. KNDS has now 11,000 workers employed. Total share value of the company, which is a 2015 merger between the German firm Krauss-Maffei Wegmann and France’s Nexter, is 20 billion euros. The Leopard main battle tanks and the Howitzer 2000 as well as the APC Boxer have been produced by the company.