John Cockerill announces the conclusion of the acquisition process of Arquus, the main French supplier of military vehicles, which began last January with the Volvo Group. The conclusion of the operation comes as France and Belgium recently signed a Memorandum of Understanding to support and oversee this alliance, with both states each entering at 10% in the capital of John Cockerill Defense. Beyond Arquus© vehicles and Cockerill© weapon systems, each a reference in their respective markets, John Cockerill Defense will also propose combined offers of vehicles equipped with light tank turrets to better serve ground forces worldwide.
It aims for an annual turnover of 1 billion euros and a workforce of 2,000 professionals by 2026, with a global presence and major operational bases in Belgium, France, Italy, India, and Saudi Arabia. John Cockerill was advised by Crédit Agricole CIB as Sole Financial Advisor for this transaction, which was financed by Crédit Agricole CIB (Coordinator and Agent), BNP Paribas Fortis, and Société Générale Corporate and Investment Banking.
Arquus represents the fusion of three historic entities—Renault Trucks Defense, ACMAT, and Panhard—each bringing its unique expertise under one brand. This collaboration has solidified Arquus’ position as a key player in the defense industry. With a remarkable 130-year history, Arquus has consistently contributed to the evolution of the automotive sector. The company’s century-long journey of innovation and dedication has significantly benefited armed forces worldwide, from the legendary FT 17 tank to the advanced GRIFFON vehicle. A pivotal participant in the French Army’s Scorpion program, Arquus is at the forefront of modernizing the Army’s armored vehicle fleet.
John Cockerill, formerly Cockerill Maintenance & Ingénierie (CMI), is a mechanical engineering group headquartered in Seraing, Belgium. It produces machinery for steel plants, industrial heat recovery equipment and boilers, as well as shunting locomotives and military equipment. In 2004, the company was renamed Cockerill Maintenance & Ingénierie (CMI), then it changed back to its original name John Cockerill in May 2019. The defence sub-division’s primary products are 90mm guns and turrets for light armoured vehicles. With over 6,000 employees, John Cockerill achieved a turnover of € 1,209 billion in 2023 in 29 countries, on 5 continents.
