(Reuters) - France's Exosens, which supplies night vision systems to NATO, will build a factory in the U.S. as members of the alliance increase defence spending, it said on Monday. WHY IT'S IMPORTANT
Exosens to Establish Its First Manufacturing Facility in the U.S.
(Reuters) - France's Exosens, which supplies night vision systems to NATO, will build a factory in the U.S. as members of the alliance increase defence spending, it said on Monday.
WHY IT'S IMPORTANT
NATO countries are increasing their defence spending amid talks to end Russia's three-year war on Ukraine and as U.S. President Donald Trump urges allies to ramp up military production.
British Prime Minister Keir Starmer said on Sunday that European leaders had agreed to draw up a Ukraine peace plan to present to the United States, as European nations said they would spend more on defence.
KEY QUOTES
"NATO and Tier-1 allies (are) continuing to ramp up their procurement of night vision systems further improving the perspectives," the French optical components maker said.
"The return of high-density combat has underscored the critical importance of night operation abilities as a key tactical advantage," it added.
BY THE NUMBERS
Exosens expects its first U.S. plant in Sturbridge, Massachusetts to begin production in early 2027.
The plant is part of a 20 million euro ($20.8 million) investment to expand its production capacity in Europe and the Unites States.
The company, which debuted in Paris in June 2024, also reported a 35% jump in its annual revenue to 394.1 million euros, topping its guidance thanks to stronger than expected demand. Its yearly net profit rose 66.7% to 30.7 million euros.
Its amplification business, which produces the Photonis night vision systems, posted a 33.5% revenue increase to 280.2 million euros in the same period.
For 2025, Exosens said it expected its revenue to grow in a high-teens percentage and adjusted core earnings (EBITDA) to rise by a low twenties percentage.
($1 = 0.9607 euros)
(Reporting by Alessandro Parodi in Gdansk, editing by Milla Nissi)
