The Belgian mechanical engineering company John Cockerill, with its John Cockerill Defense (JCD) armaments division, is looking to take over Arquus: the French manufacturer of wheeled military vehicles and weapon stations. Arquus is part of the Volvo Group and accounts for around 1% of its turnover. The sale of the company share was announced by Volvo and John Cockerill.
The two companies have been negotiating since the spring of 2023 and on 15 January 2024 ratified their agreement, which will form the basis of the exclusive takeover negotiations. Once approved, the merger of these two national flagships should result in a company with an annual turnover of EUR 1 billion and 2,000 employees by 2026, JCD stated.
According to Volvo, Arquus produces and sells specialist vehicles for the armed forces and employs around 1,200 people in France. The merger would double Cockerill’s defence business.
Consultations are expected to be completed in the first quarter of 2024.
JCD and Arquus are already working together. The companies’ portfolios complement each other, with Arquus vehicles on the one hand and JCD turrets and weapon stations on the other. For example, the French VAB Mk3 armored personnel carrier, featuring a 90 mm turret from John Cockerill, is a joint product between the two companies.
In France, Arquus is a key player in the French armed forces’ Scorpion programme. Together with Nexter and Thales, Arquus is involved in the programme’s Griffon, Jaguar and Serval combat vehicles.
The Belgian armed forces have ordered 382 Griffons and 60 Jaguars under their CAMO (Capacité Motorisée) programme, which was initiated in 2019 and is to be delivered from 2025.
