Penzberg - The Düsseldorf-based Rheinmetall Group wants to take over the activities of the Penzberg drone manufacturer EMT.
The four locations are to be retained.
The medium-sized company, founded by Hartmut Euer in Gauting in 1978, is a leading manufacturer of unarmed drones for military reconnaissance.
Customers are the German Armed Forces and foreign armed forces.
However, at the end of last year, the company ran into financial difficulties due to embargo problems with a customer.
The company has been self-administered in bankruptcy since December 2020.
According to its own information, EMT employs around 190 people at four locations in Penzberg (headquarters since 1987), Iffeldorf (since 2007), Abenberg / Middle Franconia and Osterrönfeld in Schleswig-Holstein.
In May it was said that the Israeli arms manufacturer Rafael Advanced Defense Systems from Haifa had been found as an investor.
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EMT is considered one of the leading manufacturers of unarmed drones.
Customers are the Bundeswehr and foreign armed forces.
© EMT
Group wants to keep locations
But now things are different: Rheinmetall is taking over the activities of EMT “as part of its digitalization strategy”, it was reported on Tuesday from the Düsseldorf headquarters. A corresponding agreement was signed by both sides. The parties have agreed not to disclose the purchase price. Only this much is communicated: The takeover is to take place in the form of an "asset deal". Individual assets such as land, buildings, plants, machines and, above all, rights and patents are acquired individually - but no company shares. In future, EMT's activities are to be located at the subsidiary Rheinmetall Technical Publications in Bremen. According to its own statement, the group intends to “maintain the four locations and integrate them with the existing staff into the group structure”.
Antitrust authorities need to check
The parties involved are silent about whether the Israeli prospect is also out of business with the takeover plans.
A corresponding request from Rundschau to EMT general agent Dr.
Oliver Liersch went unanswered.
However, the takeover by Rheinmetall is not yet dry.
The deal is expected to take effect at the turn of the year 2021/22 and is “not only subject to the usual committee approvals, but also subject to antitrust approval”, according to a press release from both companies.
“The contract with Rheinmetall is still subject to conditions.
The committees in the ongoing insolvency proceedings will deal with this, "said EMT general agent Liersch on a Rundschau request.