War Minister Boris Pistorius visited the Kassel site of the arms company KNDS today.
The program included a tour of production and discussions with management, employees and employee representatives. Finally, Pistorius explained, the federal government is sticking to its plans, to secure influence on KNDS “in whatever form”..
The background is the originally planned entry of the Federal Republic of Germany into the German-French group KNDS with up to 7,2 billion euro. However, the planned IPO was postponed at the beginning of July. The German owner families expected a valuation of below 12,5 Billions of euros and therefore their profit is too low.
The federal government's entry into KNDS is part of the government's preparations for war capability. Already in June 2024 demanded Pistorius, the Federal Republic of Germany has to 2029 be ready for war. In the budget draft until 2030 Almost every third euro is earmarked for military equipment.