Brahmand NewsPrevious Article
Brahmand NewsNext Article

France says does not rule out privatising arms firm Nexter

Line Spacing+- AFont Size+- Print This Article

ROANNE, FRANCE (AFP): France has not ruled out privatising the arms manufacturer Nexter, Defence Minister Gerard Longuet has said, as electronics giant Thales prepared to take a stake in the firm.

Nexter -- which produces tanks, artillery and ammunition for the French army and for export -- turned over USD 1.45 billion in 2010 and is eyeing major contracts to provide mobile howitzers to India and Malaysia.

The firm was born out of military contractor Giat Industries, but is now a state-controlled civilian body.

Longuet has previously said that Thales will take a 10 to 20-percent stake, and seek to boost ammunition exports.

Trade unions representing Nexter workers have accused the government of seeking to privatise the firm by stealth. On Thursday, Longuet said that, while this is not yet on the agenda, it has not been ruled out.

"The state has the firm intention to remain boss of this business right now, this instant. But, for all that, is the situation set in stone? No," he said, during a tour of the Nexter plant in Roanne, in central France.


France  Nexter  
Line Spacing+- AFont Size+- Print Article

Other Related News

IAF has two-pronged strategy to deal with shortage of fighter jets: Govt

To address the shortage of fighter aircraft in the Indian Air Force, the government has adopted a two-pronged strategy of midlife upgradation of existing jets and induction of new ones in the fleet, Minister of State for Defence Shripad Naik said on Thursday.

Upcoming Defence Exhibitions

BRAHMOS Missile Systems


Brahmand World Defence Update 2020

Brahmand World Defence Update

Image Gallery