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Rheinmetall Wins Major Contract: Austria Orders State-of-the-Art Air Defence System for €532 Million

Wednesday, December 13th, 2023

The Austrian defence ministry has contracted with Rheinmetall to carry out a comprehensive modernization of its existing Skyguard air defence systems. In the presence of Austrian minister of defence Klaudia Tanner, the two parties have now signed the contract for Project Skyguard Next Generation in Vienna. For Rheinmetall the order represents sales of €532 million (without value added tax), which can already be booked as an incoming order in December 2023. The contract encompasses a project period of 48 months starting in February 2024.
On behalf of Austria, a neighbouring nation and close partner of Germany, Rheinmetall will be conducting one of the most ambitious air defence projects in Europe. For the Austrian Army, the undertaking is an important step in its “Mission Forward” rearmament programme to revamp the country’s armed forces.
Armin Papperger, chairman of the executive board of Rheinmetall AG, welcomed the news: “We’re delighted by this important market win for Skynex technology. In this flagship project, Austria is at the absolute forefront of antiaircraft and counter-drone defence in Europe. This major order also highlights Rheinmetall’s key role in reequipping the armed forces of Europe in response to new threats. Our solutions for stationary and mobile air defence are part of this.”
Skyguard Next Generation belongs to the Skynex family of products from Rheinmetall Air Defence, the global leader in close-range air defence technology. The order package for Austria comprises a total of seven tactical units, each consisting of four 35mm guns, a sensor unit for monitoring airspace and a command post. In the process, twenty-eight 35mm guns currently in the customer’s inventory will be upgraded to the latest state of the art. The contract also includes spare parts, training support and 35mm ammunition. A contractually agreed option for ordering an additional tactical unit exists as well.
In the words of Oliver Dürr, CEO of Rheinmetall Air Defence AG in Zürich, “We greatly appreciate the trust of our friends and partners in Austria. The Austrian Army’s decision in favour of Skyguard Next Generation is more than just a quantum leap – it opens the door to a whole dimension in antiaircraft and counter-drone capabilities.”

Austria is getting a custom-built, pathbreaking solution for close-range air defence. “The order is a significant gain for our company”, declares Dürr, “and especially for our Zürich plant, which is responsible for carrying out the project, where it will make a decisive contribution to capacity utilization.”
The Skyguard Next Generation system is based on existing weapons systems owned by the Austrian Army. As part of a service life extension programme, its existing 35mm Oerlikon twin guns will be completely modernized and linked to a high-performance target tracking capability and Rheinmetall’s Skymaster command system.
Extraordinarily high-precision sensors make it possible to detect and identify aerial targets at an early stage. The command system lets the operator build up a local picture, evaluate the threat situation and, in close coordination with high-echelon elements, open fire. Guided missiles can also be incorporated into the system.
The complete system is highly mobile, assuring maximum efficiency during military planning. The guns can be dismounted and/or operated remotely, keeping troops well out of harm’s way while simultaneously improving combat effectiveness.
Rheinmetall’s Skynex
Cannon-based air defence solutions from the “Skynex” family of products are especially appropriate for short-range operations, where guided missiles cannot be used effectively. The Skynex system encompasses airspace surveillance, a weapon engagement centre, and effectors. Featuring a rate of fire of 1,000 rounds per minute and a maximum effective range of up to 4,000 metres, Oerlikon rapid-fire automatic cannon serve as the effectors
The success of the ageing 35mm Gepard antiaircraft tank in Ukraine underscores the effectiveness of cannon-based in countering aerial targets – especially cruise missiles and drones – and the continuing relevance of this capability today in close-range air defence.
Compared with the Gepard, however, Skynex offers a generational leap in terms of sensor technology as well as the possibility of networked application of multiple tactical units and inclusion in higher-echelon command and control systems. Moreover, using Rheinmetall’s programmable 35mm Ahead ammunition gives Skynex a unique edge when it comes to successfully combatting aerial targets.

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SIG SAUER Introduces the Competition Ready P322-COMP Rimfire Pistol with Factory-Installed Red Dot

Wednesday, December 13th, 2023

NEWINGTON, N.H., (December 12, 2023) – SIG SAUER is pleased to introduce the P322-COMP; built for the range, this premier rimfire pistol from SIG SAUER is designed with features that make it even more fun to plink with and competition ready right out of the box.

“When we brought the P322 to the market it was hailed for its ingenuity, quality, and value. Now the P322-COMP raises the bar on the entire .22 plinking experience,” said Tom Taylor, Chief Marketing Officer and Executive Vice President, Commercial Sales, SIG SAUER, Inc. “The P322-COMP ships with a factory installed ROMEOZero ELITE Red Dot optic for fast target acquisition, is designed with a slide mounted racker and sport takedown lever as value-added fun features, and a barrel-mounted compensator to reduce muzzle rise making the P322-COMP a fast, fun, and flat pistol to plink with.”

The SIG SAUER P322-COMP is a competition ready .22LR rimfire pistol with class-leading 25+1-round and 20 + 1-round capacity, has a threaded barrel equipped with a 2-port compensator and comes with a factory-installed ROMOEZero Elite Red Dot Optic. The polymer grip module features an extended magazine catch, adjustable trigger shoe, sport takedown lever, 1913 rail, and integrated magwell. The SAO hammer-fired action on the P322-COMP is completely enclosed in a two-tone competition alloy slide with a high visibility fiber-optic front sight, front, rear, and top cocking serrations an ambidextrous slide mounted racker ensure effortless slide manipulation. The pistol ships with (1) 20-round magazine and (1) 25-round magazine.

P322-COMP Specs:

Caliber: .22LR

Capacity: 20+1, 25+1

Overall length: 8 inches

Overall height: 6.1 inches

Overall width: 2.2 inches

Barrel length: 4 inches

Sight Radius: 6 inches

Weight (w/magazine): 19.8 oz.

The SIG SAUER P322-COMP is now shipping and available at retailers. To learn more about the pistol visit sigsauer.com.

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GM Defense and Jankel Announce Collaboration

Wednesday, December 13th, 2023

WASHINGTON, D.C. — GM Defense LLC, a subsidiary of General Motors (GM), and Jankel, a British world-leader in the design, integration, manufacture and support of high-specification defense systems, announced a Memorandum of Understanding (MOU). The MOU establishes a framework to jointly pursue business opportunities for defense and government customers using GM Defense mobility solutions, including the Heavy-Duty Sport Utility Vehicle (HD SUV) international variant, the Integrated Armored Vehicle (IAV). The collaboration will include support work in the U.S., in addition to the UK, Europe and in other locations where Jankel has an established support capability.

GM Defense uses a commercial-based approach, leveraging the advanced technologies of its parent, GM, to develop a protected mobility solution, such as the HD SUV, for global defense and government customers. These specially designed vehicles include independent armoring certification with options and configurations to suit customer requirements. With armor built into the vehicle design, GM Defense delivers a purpose-built platform that works seamlessly with the rest of the vehicle. These design features help ensure the vehicle is safe, reliable and easy to maneuver. GM Defense also offers ability to produce international armored vehicle fleets quickly and efficiently.

Jankel is one of the leading global suppliers of Civilian Armoured Vehicles to defense and security customers, including military and nongovernmental organizations and is a trusted and key supplier of full-service support packages that include the complete spectrum of in-service vehicle support. Experts in the conversion of a variety of base platforms to meet the demanding protection requirements of these customers, Jankel has delivered over 2,000 specialist protected platforms to more than 15 global customers, including the United Kingdom, Europe and elsewhere.

“GM Defense is looking forward to collaborating with Jankel, who can help support mobility solutions such as the HD SUV and IAV,” said Steve duMont, president of GM Defense. “Aligning our capabilities with companies like Jankel, who have a proven track record among global defense and government customers, is important as GM Defense seeks to meet the needs of the UK Ministry of Defence’s Land Industrial Strategy and to help modernize the mobility platforms of our allies.”

“Announcing this MOU is a key step for Jankel as we continue to grow our global footprint in the defense and security vehicle space,” said Jankel Chairman Andrew Jankel. “In selecting Jankel, GM Defense has recognized our strong position in the UK and Europe, and we look forward to pursuing joint support opportunities for GM Defense’s IAV. Whilst our initial focus will be on support for the IAV, the collaboration allows for a broadening of the scope to include other GM Defense products and services provided we find suitable joint opportunities. We very much look forward to growing this important relationship.”

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HENSOLDT Acquires ESG Elektroniksystem-und-Logistik-GmbH

Tuesday, December 12th, 2023

• HENSOLDT acquires ESG Elektroniksystem- und Logistik-GmbH (“ESG“) from an investment vehicle managed by Armira Beteiligungen GmbH & Co. KG (“Armira”). ESG is a leading German defence systems integrator with low double-digit annual revenue growth.

• The highly complementary, high-growth acquisition accelerates HENSOLDT’s sensor solutions strategy by building on ESG’s leading innovation, software engineering and systems integration expertise.

• Transaction valued at an enterprise value of EUR 675 million plus an earn-out of up to EUR 55 million based on specific performance targets to 31 December 2024, implying an EV/EBITDA 2024E of ~10x post run-rate cost synergies.

• The acquisition is expected to be highly value creative and financially accretive.

o Accretive to HENSOLDT stand-alone revenue growth and FCF generation

o EPS accretive by year 2 including cost synergies only and double digit accretive by year 4 including cost and revenue synergies.

o ROIC above WACC by year 4 including cost synergies only and by year 3 including cost and revenue synergies.

• The transaction has full support of HENSOLDTs two key shareholders the Federal Republic of Germany and Leonardo S.p.A.

• The acquisition is expected to be completed in H1 2024, subject to certain conditions, including obtaining necessary regulatory approvals.

Taufkirchen, 5 December 2023 – The HENSOLDT Group (“HENSOLDT”) today announced that it has signed a definitive agreement to acquire ESG Elektroniksystem- und Logistik-GmbH (“ESG”), from an investment vehicle managed by Armira Beteiligungen GmbH & Co. KG (“Armira”). ESG is a leading platform-independent systems integrator as well as established technology and innovation partner for defence and security. With the acquisition of the highly complementary defence technology business of ESG, HENSOLDT expands its business with strong design and systems integrator capabilities.

Thomas Müller, CEO of the HENSOLDT Group, says: “The acquisition of ESG is an excellent fit with our overall strategy and accelerates HENSOLDT’s development as a solution provider for defence and security. By combining highly complementary capabilities from HENSOLDT and ESG, we are taking a decisive step towards becoming a leading European provider of seamlessly integrated solutions. This will put us in an ideal position to meet the existing and future requirements of our customers around the world.”

Christian Ladurner, CFO of the HENSOLDT Group, says: “The acquisition of ESG is an excellent opportunity to take our business to the next level. ESG exhibits strong growth and cash conversion given its capex-light business model. We have identified significant cost and revenue synergies which will drive attractive value creation while maintaining our discipline in capital allocation and net leverage.”

Advanced software engineering and systems integration capabilities with high profitable growth Founded in 1967, ESG is a platform-independent systems integrator and technology and innovation partner for defence and public security. ESG develops, integrates, supports and operates highly complex, security-related electronic and IT systems for defence and security.

The company serves the defence and security needs of German and foreign armed forces, public authorities and companies. ESG has been able to establish itself as a strong German systems design and integration house, playing a vital role in major current and future programs such as FCAS (“Future Combat Air System”) and F-35. Today, the company employs 1,380 people in Germany, the Netherlands and the USA with exceptional technological expertise.

For 2023, the company’s revenue is expected to be approximately EUR 330 million in accordance with IFRS, with annual growth in the low double-digit percentage range and an EBITDA margin of approximately 14%, generating strong cash flows, with maintenance capex under 1.5% of revenue.

Highly complementary defence technologies

Adding ESG’s solution portfolio will enable HENSOLDT to combine knowledge of customer ConOps (“Concept of Operations”), certifications and engineering know-how to develop smarter solutions in a faster way, in particular the digitalization of the battlefield and development of integrated network solutions. Potential examples would include areas such as Ground Based Air Defence, Signals Intelligence, Command and Control as well as enhanced solution capabilities in various airborne and naval campaigns. In addition, it will create new opportunities in platform lifecycle services deepening HENSOLDT’s offering across training, logistics and maintenance for own and third-party installed bases. Finally, the combined company will also be a strong support partner for systems procured in the USA and Israel, ensuring long-term systems support and further development in Germany.

Acquisition accelerates HENSOLDT’s sensor solutions strategy Integrating ESG’s software engineering and systems integration capabilities will support HENSOLDT’s positioning as a comprehensive solutions provider. ESG brings expertise in intelligent data networks to integrate HENSOLDT sensor systems across domains, creating critical integrated solutions for multi-domain operations. Given the highly complementary skillsets, strong cultural fit and stakeholder support, the combined group is ideally positioned to accelerate its international growth based on the track records and growth trajectories of the two companies, while remaining firmly rooted in Germany and protecting national security interests.

Attractive value creation and prudent financing HENSOLDT is acquiring 100% of ESG for an enterprise value of EUR 675 million plus an earn- out of up to EUR 55 million based on specific performance targets to 31 December 2024.

HENSOLDT expects to generate EUR 19 million run rate annual cost synergies in addition to revenue synergies from cross-selling and combined positioning for future pipeline opportunities.

The acquisition value including the earn-out implies an EV/EBITDA 2024E of ~10x post run-rate cost synergies and ~14x excluding run-rate cost synergies. In addition to the strong strategic rationale the transaction is expected to be highly financially accretive:

• Accretive to HENSOLDT stand-alone revenue growth and FCF generation.

• EPS accretive by year 2, including cost synergies only, and double-digit accretive by year 4, including cost and revenue synergies.

• ROIC (“Return on Invested Capital”) over WACC (“Weighted Average Cost of Capital”) by year 4, including cost synergies only, and by year 3, including cost and revenue synergies.

HENSOLDT intends to finance the acquisition through a capital increase from authorized capital of up to 10% of the current share capital and new debt in the amount of approximately EUR 450 million. The Federal Republic of Germany, indirectly acting through Kreditanstalt für Wiederaufbau (KfW), holding 25.1% of the shares in HENSOLDT, intends to participate in the potential capital increase pro rata to its shareholding quota.

The acquisition is expected to be completed in H1 2024, subject to certain conditions, including obtaining necessary regulatory approvals.

HENSOLDT is advised by Deutsche Bank AG as financial advisor and Gleiss Lutz and Hengeler Mueller as legal advisor.

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Indian River County Sheriff’s Office Fields FN 509 MRD-LE Pistols Agencywide

Tuesday, December 12th, 2023

(McLean, VA – December 12, 2023) FN America, LLC is pleased to announce that Indian River County Sheriff’s Office (IRCSO) of Vero Beach, Florida, has selected the FN 509® MRD-LE 9mm striker-fired pistol as their new sidearm and have issued the pistols to their more than 370 sworn deputies. The order was fulfilled through FN Law Enforcement Distributor, Dana Safety.

“We are extremely pleased to partner with Indian River County Sheriff’s Office as they field the FN 509 MRD-LE to their deputies,” said Doug Grier, Law Enforcement Business Development Director for FN America, LLC. “As they began their selection process, Indian River County Sheriff’s Office sought a new pistol that was safe and reliable for their officers to carry in the line of duty, along with a brand partner they could rely on. FN met those needs with our commitment to service and with a duty pistol designed for law enforcement, by law enforcement.”

“We are dedicated to ensuring the safety of our deputies and providing them with durable equipment to keep our community safe. Our oath to public safety remains our top priority and these new firearms are a testament to that commitment,” said Sherriff Eric Flowers, Indian River County Sheriff’s Office. “FN’s 509 MRD-LE has demonstrated to have improved accuracy and sighting versatility that coincides with the needs of our agency. We have already received our first shipment of pistols and have qualified all of our staff. Stay tuned for updates on this important transition.”

Developed for the demands of duty use and the professional user, the FN 509 MRD-LE is FN’s premier law enforcement pistol. Fully vetted through rigorous endurance testing to function with 9mm + P duty-style ammunition, the FN 509 MRD-LE delivers reliable, accurate and durable function throughout the service life of the pistol.

Topped with a 4-inch slide, that houses the FN-signature cold hammer-forged barrel, the FN 509 MRD-LE was designed for accuracy and features the company’s patented optics-mounting system that enables the direct mounting of several miniature red dot optics along with adjustable three-dot night sights.

The proven design features four passive safety systems, including a trigger safety incorporated into the flat-faced trigger. The contoured frame design delivers superior ergonomics and effective recoil management that accommodates nearly all hand sizes through the interchangeable backstraps while maintaining a natural point of aim enabling users to acquire their sights rapidly.

To inquire about the FN 509 MRD-LE, IRCSO’s newest duty-issue sidearm, for agency or individual officer purchase, please contact the FN Law Enforcement Sales team at LE@fnamerica.com. More information about the FN 509 MRD-LE or FN’s other law enforcement products can be found at www.fnamerica.com.

*Winchester Firearms is a registered trademark owned by the Olin Corporation.

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Team SIG’s Lena Miculek Defends World Title at IPSC Shotgun World Shoot

Monday, December 11th, 2023

NEWINGTON, N.H., (December 11, 2023) – SIG SAUER, Inc. congratulates Team SIG professional shooter Lena Miculek for defending her Ladies Standard World Shotgun title at the IPSC World Shotgun Championship; this is the third time Miculek has earned this title, and Lena is the only woman in the world to ever hold the title.

In addition to earning the top award amongst females, Lena impressively placed thirteenth amongst all standard competitors (men and women), is the only female to ever break into the top twenty at an IPSC Shotgun World Shoot, was the highest scoring female amongst all female competitors in all divisions to include modified and open competitors, and won the ladies standard shoot-off. In total, Miculek earned a total of three gold medals at the IPSC Shotgun World Shoot.

“The competition Lena put together at the World Shoot was a remarkable performance and we are all incredibly proud of her amazing achievements,” said Tom Taylor Chief Marketing Officer and Executive Vice President, Commercial Sales, SIG SAUER, Inc. “Lena’s success in Thailand is a direct result of her hard work and dedication to her training and commitment to her craft. In addition to defending her title she set a series of lofty goals for herself; she crushed them all and once again raised the bar for females in professional shooting. It’s an honor to have Lena as a member of Team SIG and a representation of the SIG SAUER brand to the world.”

Lena Miculek is the top multi-discipline professional shooter in the world and is a member of Team SIG representing SIG SAUER. Lena entered the world of competitive shooting when she was eight years old and was immediately a force to be reckoned with. At age 17 she won her first World Champion title, and now has 9 World Shooting titles in 5 different shooting disciplines and over 100 championship wins and national titles in the disciplines she competes in. Lena is recognized in the industry as the most-influential female competitor, and recently used her experience to develop the ROSE by SIG SAUER™ program to help, encourage, and inspire women to take on the responsibility of their own personal safety through education, training and community.

The IPSC (International Practical Shooting Competition) was held December 3 – 10, 023 in Pattaya, Thailand.

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Savage Arms Announces AccuCan Suppressor Line

Monday, December 11th, 2023

WESTFIELD, Massachusetts – December 6, 2023 – Savage Arms continues to cross categories through innovation and product design excellence with the announcement of the AccuCan line of suppressors. Initially available in three multi-caliber options, these suppressors are lightweight, field-serviceable and feature a design that reduces not only sound, but other disturbances like flash and recoil.

The suppressor market and the options available to hunters and shooters continues to grow, evolve and improve every day. For these reasons, Savage worked diligently to create a product line that stood out among the crowd. The Savage AC338, AC30 and AC22 create separation in a busy market.

“At Savage, we have continued to create new products that today’s shooters and hunters demand,” said Rob Gates, Vice President of Sales and Marketing at Savage. “We’ve introduced several products into all-new categories, and AccuCan Suppressors are no different. We’re really proud of the features, technology and true performance-enhancing qualities found in our initial suppressor offerings. We’re excited to have the Savage name in another new and rapidly growing category. We can’t wait for shooters and hunters to get these into the field to see the advanced design, quality, reliability and ruggedness that accompany all Savage Arms products.”

The AccuCan Difference

Each individual AccuCan offering is feature-rich and designed to specific criteria that allow them to go head-to-head with existing suppressors in their product category. But there are a few distinct qualities across the entire AccuCan line that represent the innovation that will make them a new, top choice.

Today’s hunters and shooters are mobile, so suppressors can’t be a burden in the weight category. AccuCan offerings from the AC338 down to the AC22 are some of the lightest suppressors available today. They’re also rugged and boast unmatched strength-to-weight ratios.

AccuCans feature a MonoKore design that increases accuracy for seasoned and novice shooters alike. This is achieved by the fact that these suppressors reduce flash and recoil—as well as sound. After all, modern suppressors should do more than reduce a little noise.

Suppressors are now used frequently and owners also need and want to be self-reliant. That’s why each AccuCan is field-serviceable with an easy-to-disassemble/reassemble three-piece design. So whether shooters are at home on the bench or in the field on a hunt, adjustments can be done swiftly without the need for specialized tools or equipment.

The Initial Lineup

The first three offerings include the AC338, AC30 and AC22. With this lineup, there aren’t too many shooters or hunters out there who can’t find a suppressor for their shooting needs. Each Savage AccuCan suppressor brings with it a purpose-driven feature or characteristic to differentiate in a crowded market.

The AC338 is designed to be the lightest suppressor for PRS shooting and beats out other suppressors in its category when it comes to weight-to-strength ratio. The AC30 is also a lightweight hunting and PRS suppressor and is designed specifically for 7.62 x 51mm and 6.5 Creedmoor ammunition. Finally, the AC22 features the MonoKore design that allows the suppressor to be serviceable and the core upgradable and reparable without damaging or changing the serialized part.

More information on the full AccuCan lineup can be found at www.savagearms.com.

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Daniel Defense Launches the Signature Series in Collaboration with John Lovell and the Warrior Poet Society

Monday, December 11th, 2023

BLACK CREEK, Ga. — Daniel Defense has partnered with John Lovell of the Warrior Poet Society to launch the Signature Series — one-of-a-kind rifles designed, built, and backed by the most trusted names in firearms.

“This initiative is incredibly important to us. We handpick partners who share our passion and values, then work with them to design their signature firearm,” said Rod Reasen, the CEO of Daniel Defense.

“I’ve loved Daniel Defense for ages. About a decade ago, I bought my very first, really nice rifle — a Daniel Defense M4A1. It’s the gun I trust my life with. Now, here we are, doing a collab, and I couldn’t be more thrilled,” said John Lovell of the Warrior Poet Society.

John Lovell’s WPSM4A1 is a completely custom build featuring the cutting-edge and heavy-duty RIS III rail — known for its SOCOM legacy and rock-solid 6-bolt System. Paired with the Holosun 515 GM atop the Unity FAST Micro Mount and a pinned and welded Surefire Warcomp, owners can quickly acquire and keep shots on target time after time. The Radian Raptor charging handle, Radian Talon safety and Railscales components make for comfortable and familiar ergonomics, while the first-time-ever OD Green Cerakote sets the WPSM4A1 apart from any Daniel Defense currently in the market. And finally, the Geissele SSA trigger makes every shot crisp and consistent. Pre-order at DanielDefense.com/WPSM4A1.

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