Establishment of Rheinmetall BAE Systems Land Completed

Rheinmetall and BAE Systems have completed the establishment a new joint venture (JV) in the UK following the granting of British government regulatory approval for the deal on 13 June. The proposed establishment of Rheinmetall BAE Systems Land (RBSL) was announced in January, merging BAE Systems' UK-based combat vehicles business with Rheinmetall...

Rheinmetall and BAE Systems have completed the establishment a new joint venture (JV) in the UK following the granting of British government regulatory approval for the deal on 13 June.

The proposed establishment of Rheinmetall BAE Systems Land (RBSL) was announced in January, merging BAE Systems' UK-based combat vehicles business with Rheinmetall into the JV, 55% of which is held by the German defence manufacturer and 45% by BAE Systems.

Peter Hardisty, formerly of Rheinmetall UK, has been appointed as managing director of the new company, while other members of the new management team include Carrie White, who has assumed the role of finance director, and Phil Simon, who has been appointed as operations director, both of whom were previously with BAE Systems.

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Source: www.janes.com