Rheinmetall completes sale of large-bore piston unit
27 January 2023
Rheinmetall has officially transferred its large-bore pistons production to Koncentra Verkstads AB (KVAB) of Gothenburg, Sweden. In October 2022 Rheinmetall announced the sale, which reflects the Düsseldorf tech group’s strategic reorientation. No financial details were disclosed.
Following the legal review by the relevant authorities, the closing took place with retroactive effect on 1 January 2023. At the same time, Rheinmetall continues to press ahead with the sale of further parts of its pistons production operations, especially small-bore pistons.
In doing so, Rheinmetall is pursuing its strategic objective of focusing primarily on new technologies and alternative drive systems in its civil sector activities.
The purchase includes Rheinmetall’s complete large-bore pistons organization, including three production plants in Germany, the U.S. and China, as well as the steel pistons line of the small-bore pistons factory in Marinette, Wisconsin, U.S.
Going forward, the company “KS Large Bore Pistons” will retain the Kolbenschmidt and KS brands. A new company has been formed for the German plant, KS Large Bore Pistons Germany GmbH. The remaining two companies, KS Large Bore Pistons LLC in the U.S. and KSLP China Co. Ltd. in China, will be transferred unchanged.