05 February 2010
05 February 2010
Royal TenCate has agreed to acquire the armour company AML UK, based in Swindon, United Kingdom. This acquisition will provide TenCate with full access to the UK market for lightweight composite armour solutions. AML has annual sales of approximately £ 10 million. The share purchase agreement is expected to be concluded this month.
AML UK has a strong position within the armour market in the United Kingdom, which is reported to be the second largest market of its kind worldwide. The company is largely engaged in the design and production of vehicle armour materials. Furthermore, AML UK also provides a range of other products for the security market.
It is thought that this acquisition will help TenCate Advanced Armour expand its position within the UK market, especially in the field of vehicle, aircraft and naval armour products.
Frank Meurs, Director of TenCate Advanced Armour EMEA said: “AML has an excellent reputation as a developer of revolutionary concepts and as an engineering partner for the prototyping and design of production processes. As a result of this, AML has become an important partner of the UK Government and its associated vehicle manufacturers and contractors. AML's complementary activities will support our existing business. TenCate will be able to contribute much to the further growth of the already well positioned AML activities”.
James Purves, Managing director of AML UK said: “In order to participate in large tenders in connection with future army modernization programmes a combination with TenCate forms a crucial step in the further development of the AML organization. AML will be able to benefit from TenCate's production and technology synergies. In the past we have joined forces successfully on a project basis. This transaction is the result of this successful partnership and has the ability to grow the company even faster. For our employees this exciting move means that they will now be part of a global growing listed enterprise”.