Koncentra Verkstads Ab entered into an agreement to acquire Large-bore pistons business from Rheinmetall AG (XTRA:RHM) on October 24, 2022. The contract encompasses Rheinmetall's large-bore pistons business, including the three production plants in Germany, the United States and China as well as the steel pistons line of its small-bore pistons plant in Marinette, Wisconsin/USA. In the coming weeks, the relevant competition authorities will undertake a legal assessment of the sale. Rheinmetall's large-bore pistons business currently has around 290 employees in Neckarsulm, Germany; Kunshan, China; and Marinette/Wi, USA. The new company's CEO will be Ralf Remmler, who up until now has served as head of the large-bore pistons business unit. A new company called KS Large Bore Pistons Germany GmbH is being set up in Germany, while the two existing companies in the USA (KS Large Bore Pistons LLC) and China (KSLP China Co. Ltd) will convey directly. Conclusion of the transaction on 31 December 2022 is sought. Dr. Thomas Menke, Dr. Alexander Schwarz of Gleiss Lutz acted as legal advisor to Rheinmetall AG.

Koncentra Verkstads Ab completed the acquisition of Large-bore pistons business from Rheinmetall AG (XTRA:RHM) on January 1, 2023.