INDUSTRY NEWS

In a move that will reinforce Rheinmetall Group’s position as a major supplier of advanced defence technology to ground forces of Germany, its allies and other like-minded nations, the company has completed the purchase of IBD Deisenroth Engineering GmbH.

Based in Lohmar, Germany, IBD Deisenroth Engineering is a world-renowned supplier of passive protection systems, principally for military vehicles. The company has around 120 employees. Sales last year came to roughly €35 million.

This acquisition is intended to round out Düsseldorf-based Rheinmetall Group's portfolio in the field of protection technology for military vehicles.

The transaction, to effect on 1 June 2019, will see Rheinmetall Group taking over all operational assets of IBD Deisenroth Engineering GmbH.

Contractual agreements to this effect have been reached and the parties have agreed not to disclose the purchase price.