Rheinmetall AG of Düsseldorf, Germany, has completed its takeover of Simrad
Optronics ASA of Nøtterøy, Norway. Following its submission on 6 May 2010 of a
public buyout bid to the company’s shareholders, and the end of the offer phase,
Rheinmetall now holds 100% of Simrad Optronics ASA stock. This necessitated a
squeeze-out procedure conducted in accordance with the Norwegian Companies
Act. Simrad Optronics ASA produces components for remote control weapon stations,
electro-optical devices and weapon system upgrades for a global client base.
In 2009 the company’s 200 employees generated sales of approximately
NOK 624 million, equating to around €80 million. Germany’s globe-spanning Rheinmetall Group is a top supplier of state-of-the-art
defence technology and automotive components. The Group’s defence technology arm, Rheinmetall Defence, equips the world’s
armies with a comprehensive array of military vehicles, weapons and ammunition,
air defence systems, propellants, defence electronics, and simulation and training
technology. At home and abroad, Rheinmetall Defence’s 9,300-strong staff
generated sales in fiscal 2009 of around €1.9 billion.