# Rheinmetall acquires Expal Systems for €1.2 billion

Rheinmetall has signed a contract to acquire Expal Systems S.A., a Spanish ammunition maker, from MaxamCorp. for an enterprise value of €1.2 billion. Closing is expected in summer 2023, subject to regulatory approval.

- Type: Acquisition
- Announced: 2022-11-14
- Where: Madrid, Spain, Spain
- Value: $1.24B (1.20B EUR)
- Status: announced
- Products: ammunition, propellants, fuses, rocket propulsion systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Rheinmetall](https://endata.com/companies/2541.md) (acquirer)
- [Expal Systems](https://endata.com/companies/66624.md) (target)
- [MaxamCorp. Holding](https://endata.com/companies/66625.md) (partner)

## Sources

- [edrmagazine.eu](https://www.edrmagazine.eu/%E2%96%BA-rheinmetall-takes-over-spains-expal-systems-s-a-move-brings-the-group-new-ammunition-production-capacity), 2022-11-14: "In making this acquisition, the Düsseldorf-based technology enterprise is seeking to bolster its core weapon, ammunition and propellant business in a sustained way."
- [asdnews.com](https://www.asdnews.com/news/defense/2022/11/14/rheinmetall-takes-over-spains-expal-systems-sa), 2022-11-14: "Rheinmetall AG today concluded a purchase contract with MaxamCorp. Holding S.L. of Madrid to acquire the entire share capital of Expal Systems S.A of Madrid, a globally renowned ammunition maker."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.