{"id":35488,"date":"2016-06-10T18:04:01","date_gmt":"2016-06-10T18:04:01","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2016\/06\/10\/nexter-and-kmw-partner-to-focus-on-land-systems\/"},"modified":"2026-08-07T22:52:29","modified_gmt":"2026-08-07T22:52:29","slug":"nexter-and-kmw-partner-to-focus-on-land-systems","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/digital-show-dailies\/eurosatory\/2016\/06\/10\/nexter-and-kmw-partner-to-focus-on-land-systems\/","title":{"rendered":"Nexter and KMW Partner To Focus on Land Systems"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">PARIS \u2014\u00a0Nexter and Krauss-Maffei Wegmann have named their joint venture KNDS, standing for &#8220;KMW and Nexter Defense Systems,&#8221; the two companies announced June 10 in a joint statement.<br\/><br\/>&#8220;At Eurosatory 2016, the world&#8217;s largest international land defense and security exhibition, Nexter and KMW will be showcasing their product ranges under the joint KNDS banner on just one stand,&#8221; the statement read.<br\/><br\/>The two companies see the creation of the joint venture as the start of a consolidation in land systems.<br\/><br\/><a href=\"http:\/\/www.defensenews.com\/eurosatory\/\" target=\"_blank\"><em><strong>Get full coverage<\/strong>\u00a0of Eurosatory 2016 at Defense News&#8217; Digital Show Daily<\/em><\/a>.<br\/><br\/>&#8220;We are glad to present our new step forward on the path to a strong European defense group through our new name and our common presence during Eurosatory,&#8221; said St\u00e9phane Mayer and Frank Haun, co-chief executives of KNDS.<br\/><br\/><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The project name during the negotiations to set up the joint venture had been KANT, standing for &#8220;KMW and Nexter Together.&#8221; The joint venture started life in December with a working name of Honosthor, drawn from Honos, the Roman god of chivalry, honor and military justice, and Thor, the Nordic god of thunder.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are an initial five years to explore whether the KNDS\u00a050-50\u00a0holding company will lead to closer ties between the French and German firms. The two companies seek cost savings of\u00a0\u20ac60 million (US $68 million) over five years, cooperation on export sales, and joint planning to build new weapons for France, Germany, other European and worldwide client countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The partnership will have annual sales of almost \u20ac2 billion, an order book of \u20ac9 billion\u00a0and employ more than 6,000 staff, the companies said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nexter and Krauss-Maffei Wegmann have named their joint venture 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