23 December 2009 – GTD and Nexter Systems have signed a shareholder agreement under which a Spanish joint venture will be formed within the next few weeks. One of the main tasks of the new company will be to fulfill the contract for the Spanish "Vehiculo Blindado Ruedas 8x8" (VBR 8x8) programme to replace the existing BMR vehicle. Ibersystems de Defensa will be a Spanish limited liability company owned jointly by Nexter Systems and GTD. Based in Barcelona, it will develop the Spanish variants, undertake final assembly of the local version of the VBCI and manage a network of suppliers throughout Spain and Portugal. The first phase of the Spanish VBR 8x8 program involves the acquisition of 300 vehicles at a cost over of €1,4 billion. This should be followed by a second acquisition phase. The first 300 vehicles will include 173 troop transports, 8 Command Posts and 119 cavalry fighting vehicles. The contract is due to be signed by the start of 2011 at the latest. About GTD: GTD has over 22 years of experience in developing systems and products for the aerospace and defense industries. With more than 300 engineers, the Group continues to grow strongly on the basis of a well-stocked order book and a high degree of technological excellence. About Nexter: Nexter applies its expertise in armored land combat systems to meet the needs of the French army and other forces internationally. The scope of its business includes the supply of weapons systems and munitions for Army, Air Force, Navy and law enforcement applications. The range of products offered by Nexter includes: the Leclerc battle tank, the VBCI combat vehicle, the CAESAR artillery system, BONUS intelligent munitions and the SITV1 command system, the Aravis 4x4 hyper protected vehicle, all backed up by customer service, support and recycling.
