BAE Systems plc has completed the sale of its Heckler & Koch small arms business to Heckler & Koch Beteiligungs GmbH, a German registered company established for the purpose of the acquisition.
BAE Systems plc has disposed of its interest in the equity of four legal entities being H&K GmbH, H&K Inc, Hekosa and NSAF Ltd., which together comprise the H&K small arms business.
Clive Richardson, Managing Director of BAE Systems RO Defence, who managed Heckler & Koch, commented "Heckler & Koch was bought by BAE Systems plc in 1991, and we have invested and supported the business since that time to ensure that it maintains its standing as the leading manufacturer of small arms. I am confident that this sale will enable the business to grow and prosper in the future. "
Heckler & Koch manufactures rifles, pistols, submachine guns, machine guns, grenade launchers and hunting and sports weapons. It has 700 employees based in Germany, USA, Switzerland and Nottingham in the UK and its headquarters are at Oberndorf in Germany.
BAE Systems employs nearly 100,000 people including Joint Ventures, and has annual sales of around £13 billion. The company offers a global capability in air, sea, land and space with a world-class prime contracting ability supported by a range of key skills. BAE Systems designs, manufactures and supports military aircraft, surface ships, submarines, space systems, radar, avionics, communications, electronics, guided weapon systems and a range of other defense products.