The Belgian group John Cockerill has big ambitions in the defence industry. It has just announced the opening of exclusive negotiations with the Swedish truck manufacturer Volvo Trucks to buy the French company Arquus.
Formerly Renault Trucks Defense, and the result of the merger of several emblematic French defence companies such as Panhard, Berliet and Saviem, Arquus has been part of Volvo Trucks since 2001.
The company, which employs 1200 people in four industrial sites in France, manufactures armored vehicles and rolling stock for the French army, including the trucks used as the basis for the Caesar long-range guns (assembled by Nexter), as well as the chassis and wheels of the Jaguar (reconnaissance vehicles equipped with a cannon) and Griffon (troop carrier) armored vehicles. In 2022, Arquus assembled 1272 new vehicles and achieved a turnover of €550 million.
€1 billion
John Cockerill is already present in the defence sector. It provides tank turrets for light armor and fire and simulation systems. Together, the defense activities of the two groups are expected to reach €1 billion, with a global presence and major operational bases in Belgium, France, Italy, India and Saudi Arabia.
Such a merger could take advantage of the partnership that has existed since 2018 between France and Belgium to provide the two armies with similar land equipment and doctrines. Volvo had already tried to sell its defence division in 2016, before abandoning it in 2017 due to a lack of a satisfactory takeover offer.