Belgian firm John Cockerill is reportedly in talks for an exclusive acquisition of French organisation Arquus, a standout name in the production of military vehicles in France. Formerly known as Renault Trucks Defense, Arquus was once part of the Volvo Group, based in Sweden.
A Move to Strengthen Franco-Belgian Relations
The potential acquisition by John Cockerill represents a significant move in bolstering French-Belgian cooperation in a key sector. This move is not just about domestic growth; it has implications on a global scale, aiming to enhance John Cockerill's footprint in the international land defense market.
Optimistic predictions for the future Franco-Belgian alliance suggest a superior level of service to global land forces. This will be achieved by ensuring both top-tier quality and cost competitiveness.
Anticipated Growth For Combined Operations
Upon successful acquisition, the joint operations of John Cockerill and Arquus are set to target an impressive annual revenue of 1 billion euros. Moreover, a projected workforce of 2000 professionals is on the cards for 2026.
About French Group Arquus
Arquus, operating from its headquarters in Versailles, France, additionally operates from industrial sites spread across Limoges, Saint-Nazaire, Fourchambault, and Marolles-en-Hurepoix. The company has a robust workforce of 1200 people in France and reported an impressive turnover of 550 million euros in 2022.
Sale Promise from Volvo Group
The Volvo Group has reportedly given John Cockerill a promise, securing the right to sell Arquus. This agreement is, however, contingent upon mandatory discussions with the employee representatives.
This promise is projected to be fully realized in the first half of 2024. It must be noted though, this timeline is dependent on government approvals and other necessary prerequisites.