MBDA completes integration of German missile company LFK
European missile systems company MBDA today announced that it has completed the full integration of LFK GmbH, the German missile manufacturer, into the group. This follows official clearance by the European Commission and by the German Ministry of Economics and Technology.
The acquisition, announced last year, was approved by the two shareholders of LFK GmbH, EADS and MBDA, and by the three shareholders of MBDA, EADS, BAE Systems and Finmeccanica. MBDA’s new component in Germany will become a full part of MBDA’s group structure, adopting all of its procedures and processes while also addressing Europe’s third largest missile market, Germany.
MBDA’s Chief Executive Officer, Marwan Lahoud, said: “We are delighted, at last, to formally welcome on board our German colleagues. This move will consolidate our position of being the number one missile company worldwide and will boost our revenues to almost € 3.6 billion. Our German component will play a crucial role in future developments and programmes by bringing its skills and expertise into the group, strengthening our European technology base and increasing our transatlantic cooperation portfolio”.
Werner Kaltenegger, Managing Director of MBDA Deutschland, commented: “The integration of LFK gives MBDA an even stronger international portfolio to face intensive competition in the missile industry and will enhance its position on transatlantic co-operation – while at the same time maintaining the possibility to realize ‘German Eyes Only’ programmes. Furthermore LFK will enlarge its access to outstanding technologies and export markets.”
There will be no change to the current MBDA shareholder agreement under which BAE Systems (37.5%), EADS (37.5%) and Finmeccanica (25%) jointly own MBDA. The management and administration of MBDA Deutschland will remain in Unterschleißheim, southern Germany.