The Belgium-based John Cockerill, a key player in light tank technology and simulation systems, has entered an exclusive agreement with the Volvo Group to acquire Arquus, France’s leading military vehicle supplier.
This proposed acquisition is poised to fortify John Cockerill’s global position in the land defense market and diversify its product range to encompass a wide array of advanced, high-mobility wheeled military vehicles.
The consolidation of John Cockerill Defense and Arquus aims to achieve an annual turnover of €1 billion and employ 2,000 professionals globally by 2026. With operational bases in Belgium, France, Italy, India, and Saudi Arabia, the consolidated entity is set to become a significant player on the world stage.
This strategic move not only supports the collaborative vehicle sourcing programs between the French and Belgian land forces but also marks a crucial step toward the creation of a European defense champion. Positioned to cater to the evolving needs of governments in Belgium, France, Germany, and other partner countries, the merged capabilities of John Cockerill and Arquus promise more innovative and competitive solutions.
François Michel, CEO of the John Cockerill Group, emphasized the transformative nature of this acquisition, particularly in the field of light tanks. The synergy between John Cockerill Defense and Arquus is expected to yield vehicles that are not only more innovative but also more competitive, meeting the demands of land forces globally.
It’s important to note that the completion of this transaction is contingent upon customary conditions, including works council consultations and regulatory approvals. If successful, this acquisition will mark a significant milestone in the European defense industry.
