Renk targets US market with L3Harris Combat Propulsion Systems acquisition
Transmission manufacturer Renk is to acquire the Combat Propulsion Systems (CPS) engine business and Magnet-Motor company from L3Harris Technologies for an undisclosed sum, the German company announced on 1 March.
The transaction is expected to close in the second half of 2021, subject to the usual regulatory approvals.
CPS engines in the AVDS-1790 family are installed on approximately 30,000 combat vehicles worldwide, with eight export customers according to Shephard Defence Insight.
In the US, the acquisition positions Renk in several programmes such as the Bradley Fighting Vehicle, the M109A7 self-propelled howitzer (pictured), the Armored Multi-Purpose Vehicle, the Multiple Launch Rocket System and the M88A2 HERCULES recovery vehicle.
CPS has also been developing and delivering upgrades as part of spiral performance improvements for US Army modernisation.
Renk CEO Florian Hofbauer said the US armoured vehicle market has ‘sales prospects of around $10 billion annually’, adding that the acquisition of CPS ‘ideally positions us’ for the Next Generation Combat Vehicle programme.
Germany-based Magnet-Motor specialises in the development and design of high-performance electric power supplies and hybrid-drive systems. Renk stated that it is already working with the company on certain 'strategic programmes' to provide the next generation of hybrid-drive solutions.
As part of our promise to deliver comprehensive coverage to our Defence Insight and Premium News subscribers, our curated defence news content provides the latest industry updates, contract awards and programme milestones.
More from Land Warfare
-
Lockheed Martin signs Australian air and missile defence system deal
Air 6500 Phase 1, worth AU$500 million (US$326 million), will result in a sovereign system that can provide greater situational awareness and help to defend against hostile aircraft and missiles. It will sit at the core of Australia’s Integrated Air and Missile Defence programme.
-
Rheinmetall wins communications deal that could be worth up to €400 million
The systems have been purchased under a special fund which has already been tapped into for the purchase of 60 CH-47F Block II Chinook helicopters worth up to €8 billion (US$8.7 billion) and thousands of Rheinmetall Caracal airmobile special operations vehicles worth €1.9 billion.
-
The Philippines looks to Israel for military equipment amid South China Sea tensions
The southeast Asian country has been enhancing its military readiness by procuring advanced Israeli defence platforms and systems.
-
NSPA signs new helmet system deal and agreement for C-UAS systems
The Caiman helmet has been designed to be scalable for dynamic operations with mission-specific accessories and can incorporate electronics, communications headsets and other critical equipment.