Renault Truck Defense acquires Panhard

(B2) Renault Truck Defense, a Volvo subsidiary specializing in military vehicles, announced on Thursday (July 26) the takeover of the Panhard company. The transaction should take place at the end of 2012, after having been approved by the competent authorities. French manufacturer of light armored vehicles since 2005, Panhard has approximately 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 one more step in the restructuring and rationalization of the French defense industry, which began under the former government.