Restructuring Europe's defence industry has taken another step forward with the creation of Eurenco, the European Energetics Corporation, a joint venture between France's Groupe SNPE, Sweden's Saab and Finland's Patria. Groupe SNPE holds 60.2% of the new joint venture, with the Nordic explosives and ammunition companies holding 19.9% each. Eurenco should be operational by the beginning of next year, following competition authority and defence ministry approvals.
Source: Flight International