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Renault Truck Defense acquires Panhard

(B2) Renault Truck Defense, a Volvo subsidiary specializing in military vehicles, announced Thursday (July 26) the acquisition of the Panhard company. The transaction is expected to take place at the end of 2012, following approval by the relevant authorities. French manufacturer of light armored vehicles since 2005, Panhard has around 300 employees for a turnover of 81 million euros and a profit of 9,4 million euros. 300 employees who should therefore be added to the 500 employees of Renault Truck Defense. This transaction is another step in the restructuring and rationalization of the French defense industry, begun under the former government.

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