Rheinmetall DeTec AG Increases Its Stake In Holland's Eurometall
;In order to further strengthen its position in the medium calibre [ammunition] sector, the Rheinmetall Group's Rheinmetall DeTec AG of Ratingen, Germany has increased its stake by 33.3% in the Dutch company Eurometall Holding N.V. of The Hague, with retroactive effect as per December 31st 1998.
Eurometall produces medium and large-calibre ammunition, principally for the Dutch procurement authorities (DMKL) in The Hague.
By taking over the stake formerly held by Dynamit Nobel AG, Rheinmetall DeTec AG now holds a two-thirds interest in Eurometall, which, apart from its defence technology role, is also active in the fields of energy and automotive technology. The Dutch government owns the rest of the company.
The cartel authorities in the Federal Republic of Germany and the Netherlands have both given their approval to the takeover.
Eurometall Holding N.V.'s 700 or so employees are expected to produce DM 240 million in sales in 1999.
Rheinmetall DeTec, which took over the Swiss company Oerlikon Contraves AG only a few weeks ago, has a workforce of 11,500 and annual sales of around DM 3.8 billion. It plays a significant, increasingly Europe-wide role in maintaining core competencies in national and international defence technology.
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Rheinmetall DeTec AG Increases Its Stake In Holland's Eurometall
