47-462: Joint-venture European armaments company CTA International is an equal-shares joint venture company between defence companies Nexter and BAE Systems . CTAI is based in Bourges , France , and has been established to develop and manufacture case telescoped weapons and ammunition . The company name is an acronym for Case Telescoped Ammunition. Its main product
94-439: A 2.2 percent average ROA, while wholly owned and controlled affiliates in the U.S. only realized a 0.7 percent ROA." In European law , the term "joint venture" is an exclusive legal concept, better defined under the rules of company law . In France , the term "joint venture" is variously translated as "association d'entreprises", "entreprise conjointe", "coentreprise" or "entreprise commune". A JV can be brought about in
141-708: A JV aimed at defining standards or serving as an "industry utility" that provides a narrow set of services to industry participants. Some major joint ventures include United Launch Alliance , Vevo , Hulu , Virgin Media O2 , Penske Truck Leasing , and Owens-Corning . According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates . He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to
188-517: A company. By its formation, the JV becomes a new entity with the implications that: On the receipt of the Certificate of Incorporation, a company can commence its business. This is a legal area and is fraught with difficulty as the laws of countries differ, particularly on the enforceability of "heads of" or shareholder agreements. For some legal reasons, it may be called a Memorandum of Understanding . It
235-485: A principal disadvantage is absence of an interested and influential Chinese party. As of the 3rd Quarter of 2004, WFOEs had replaced EJVs and CJVs as follows: (*)=Financial Vventures by EJVs/CJVs (**)=Approved JVs These enterprises are formed under the Sino-Foreign Investment Act. The capital is composed of value of stock in exchange for the value of the property given to the enterprise. The liability of
282-404: Is allowed to enter into contracts with appropriate government authorities to acquire land use rights, rent buildings, and receive utility services. In this it is more similar to a CJV than an EJV. WFOEs are expected by PRC to use the most modern technologies and to export at least 50% of their production, with all of the investment is to be wholly provided by the foreign investor and the enterprise
329-592: Is described below. The EJV Law is between a Chinese partner and a foreign company. It is incorporated in both Chinese (official) and in English (with equal validity), with limited liability. Prior to China's entry into WTO – and thus the WFOEs – EJVs predominated. In the EJV mode, the partners share profits, losses, and risk in equal proportion to their respective contributions to the venture's registered capital. These escalate upwardly in
376-606: Is different from Wikidata Use dmy dates from January 2018 Joint venture A joint venture ( JV ) is a business entity created by two or more parties, generally characterized by shared ownership , shared returns and risks , and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging market ; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. Most joint ventures are incorporated, although some, as in
423-465: Is done in parallel with other activities in forming a JV. Though dealt with briefly for a shareholders' agreement , some issues must be dealt with here as a preamble to the discussion that follows. There are also many issues which are not in the Articles when a company starts up or never ever present. Also, a JV may elect to stay as a JV alone in a "quasi partnership" to avoid any nonessential disclosure to
470-410: Is the 40CTAS for armoured fighting vehicles such as armoured reconnaissance vehicles and infantry fighting vehicles . Timeline [ edit ] 1994 - CTAI was created by (at that time) GIAT and Royal Ordnance , with initial activities around a 45mm solution 1997 - the 40mm calibre solution is selected 1999 - The UK MoD Operational Analysis (OA) study output is shared with US DoD;
517-464: Is what will happen if the firm is dissolved, if one of the partners dies, or if the firm is sold. Often, the most successful JVs are those with 50:50 partnership with each party having the same number of directors but rotating control over the firm, or rights to appoint the Chairperson and Vice-chair of the company. Sometimes a party may give a separate trusted person to vote in its place proxy vote of
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#1733348612477564-505: Is within his total control. WFOEs are typically limited liability enterprises. Like with EJVs, but the liability of the directors, managers, advisers, and suppliers depends on the rules which govern the Departments or Ministries which control product liability, worker safety or environmental protection. An advantage the WFOE enjoys over its alternates is enhanced protection of its know-how but
611-774: The German Army will be procured from 2015 on. Germany plans an overall purchase of approximately 300 Fenneks. The first vehicle was delivered to the Netherlands in July 2003 and the first to Germany in December of the same year. Deliveries will continue until 2011 (additional orders for the German Army are planned from 2015 on). The Dutch SP Aerospace company, which produced the Fennek for the Dutch military,
658-2352: The Wayback Machine CTAI presentation at conference - April 2009 ^ "MoD receives final 40CT cannon | Shephard" . External links [ edit ] "CTAi web site" - CTA International v t e KNDS Subsidiaries KNDS Deutschland KNDS France KNDS Deutschland (Krauss-Maffei Wegmann) KraussMaffei Maffei Krauss & Co. Wegmann & Co. Products Artillery Gun Module ATF Dingo Boxer MRAV Fennek Flakpanzer Gepard FLW remote weapon station Henschel-Wegmann Train KMW F2 KMW Grizzly Krauss-Maffei ML 4000 C'C' Leopard 1 Leopard 2 M270 Multiple Launch Rocket System Mungo ESK Panzerhaubitze 2000 Puma KNDS France (Nexter Systems) CTA International Products 20 mm modèle F2 gun AMX Leclerc APILAS CAESAR FAMAS FR F2 sniper rifle GIAT 30 GIAT LG1 Nexter Aravis Nexter Titus TRF1 VBCI Véhicule de l'Avant Blindé Wasp 58 People Georg Krauß v t e BAE Systems Subsidiaries and divisions BAE Systems Australia Maritime Services Maritime - Naval Ships Maritime - Submarines Military Air & Information Regional Aircraft BAE Systems Inc Electronic Systems BAE Systems Platforms & Services CORDA Joint ventures Air Astana (49%) CTA International (50%) Eurofighter GmbH (33%) FNSS Defence Systems (49%) MBDA (37.5%) [REDACTED] Category Retrieved from " https://en.wikipedia.org/w/index.php?title=CTA_International&oldid=1235419720 " Categories : BAE Systems joint ventures KNDS France Defence companies of France 40 mm artillery Companies based in Centre-Val de Loire Hidden categories: Webarchive template wayback links Articles with short description Short description
705-476: The World Trade Organization (WTO) around 2001 has had profound effects on foreign investment. Not being a JV, they are considered here only in comparison or contrast. To implement WTO commitments, China publishes from time to time updated versions of its "Catalogs Investments" (affecting ventures) prohibited, restricted. The WFOE is a Chinese legal person and has to obey all Chinese laws. As such, it
752-464: The oil and gas industry , are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are " co-venturers ". The venture can be a business JV (for example, Dow Corning), a project/asset JV intended to pursue one specific project only, or
799-450: The "constitution" of a company in these countries. The articles of association regulate the interaction between shareholders and the directors of a company and can be a lengthy document of up to 700,000 or so pages. It deals with the powers relegated by the stockholders to the directors and those withheld by them, requiring the passing of ordinary resolutions , special resolutions and the holding of Extraordinary General Meetings to bring
846-456: The DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies' wholly owned and controlled affiliates (the vast majority of which are wholly owned) realized a slightly lower 5.2 percent ROA. The same story holds true for investments by foreign companies in the U.S., but the difference is more pronounced. U.S.-based joint ventures realized
893-681: The Dutch MRAT version or a 40 mm automatic grenade launcher ( HK GMG ) or Rheinmetall MG3 for the German vehicles. The Royal Netherlands Army also placed an order at the Turkish company ASELSAN for 18 Raytheon Stinger surface-to-air missile launchers to be fitted on the Fennek. The launcher in this case is the Stinger Weapon Platform (SWP), with four Stinger missiles intended for mid-range air defence. The launcher can be controlled from on board
940-509: The Fennek in the Royal Netherlands Army : JFST (Joint Fire Support Team, some with and without IED added protection) Both Germany and the Netherlands have deployed Fennek reconnaissance vehicles to Afghanistan in support of ISAF . On 3 November 2007, a Dutch Fennek was hit by an improvised explosive device killing one and wounding two other occupants. The vehicle and its crew were taking part in an offensive operation targeting
987-626: The Founder at board meetings. Recently, in a major case the Indian Supreme Court has held that Memorandums of Understanding (whose details are not in the articles of association) are "unconstitutional" giving more transparency to undertakings. A JV is not a permanent structure. It can be dissolved when: Joint ventures are risky forms of business partnerships . Literature in business and management has paid attention to different factors of conflict and opportunism in joint ventures, in particular
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#17333486124771034-459: The JV's life, giving the option to the foreign investor, by holding higher equity, obtains a faster rate of return with the concurrent wish of the Chinese partner of a later larger role of maintaining long-term control. The parties in any of the ventures, EJV, CJV or WFOE prepare a feasibility study outlined above. It is a non-binding document – the parties are still free to choose not to proceed with
1081-528: The US) covering know-how and trademarks and supply-of-equipment agreements. The minimum equity is prescribed for investment truncated, where the foreign equity and debt levels are: There are also intermediary levels. The foreign investment in the total project must be at least 25%. No minimum investment is set for the Chinese partner. The timing of investments must be mentioned in the Agreement and failure to invest in
1128-461: The cases, the status of the formed enterprise is that of a legal Chinese person which can hire labor directly as, for example, a Chinese national contactor. The minimum of the capital is registered at various levels of investment. Other differences from the EJV are to be noted: Convenience and flexibility are the characteristics of this type of investment. It is therefore easier to find co-operative partners and to reach an agreement. With changes in
1175-618: The death of Mao Zedong in 1976, initiatives in foreign trade began to be applied, and law applicable to foreign direct investment was made clear in 1979, while the first Sino-foreign equity venture took place in 2001. The corpus of the law has improved since then. Companies with foreign partners can carry out manufacturing and sales operations in China and can sell through their own sales network. Foreign-Sino companies have export rights which are not available to wholly Chinese companies, as China desires to import foreign technology by encouraging JVs and
1222-495: The directors' decision to bear. A Certificate of Incorporation or the Articles of Incorporation is a document required to form a corporation in the U.S. (in actuality, the state where it is incorporated) and in countries following the practice. In the US, the "constitution" is a single document. The Articles of Incorporation is again a regulation of the directors by the stock-holders in
1269-434: The driver from inside the vehicle to suit terrain conditions. The primary mission equipment is an observation package mounted on an extendable mast. Sensors include a thermal imager , daylight camera and a laser rangefinder . Combined with the vehicle's GPS and inertial navigation system the operator can accurately mark targets or points of interest and pass that data to the digital battlefield network. The sensor head of
1316-471: The first tranche of the EBRC Jaguar 26th November 2021 : British MoD receives the 515 and last 40CT cannon ordered. References [ edit ] ^ " "CTA International Secures New Contract From UK MOD" - BAE Systems" . Archived from the original on 1 April 2010 . Retrieved 27 March 2010 . ^ http://www.dtic.mil/ndia/2009gunmissile/7961leslie.pdf Archived 5 June 2011 at
1363-468: The following major ways: In the UK , India , and in many common law countries, a joint-venture (or else a company formed by a group of individuals) must file its memorandum of association with the appropriate authority. This is a statutory document which informs the public of its existence. It may be viewed by the public at the office in which it is filed. Together with the articles of association , it forms
1410-423: The government or the public. Some of the issues in a shareholders' agreement are: There are many features which have to be incorporated into the shareholders' agreement which is quite private to the parties as they start off. Normally, it requires noтуОЧ submission to any authority. The other basic document which must be articulated is the Articles, which is a published document and known to members. This repeats
1457-547: The indicated time, draws a penalty. Co-operative Joint Ventures (CJVs) are permitted under the Sino-Foreign Co-operative Joint Ventures. Co-operative enterprises are also called Contractual Operative Enterprises. The CJVs may have a limited structure or unlimited – therefore, there are two versions. The limited-liability version is similar to the EJVs in status of permissions – the foreign investor provides
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1504-583: The influence of parent control structure, ownership change, and volatile environment. Government procurement regulations, such as the Federal Acquisition Regulation (FAR) in the United States, may specify how joint ventures are to be approached as suppliers or confirm that a joint venture or other form of contractor partnering is seen as a "desirable" arrangement for supplying to government. The FAR states that The Government will recognize
1551-405: The integrity and validity of contractor team arrangements [including joint ventures], provided the arrangements are identified and company relationships are fully disclosed in an offer or, for arrangements entered into after submission of an offer, before the arrangement becomes effective. The Government will not normally require or encourage the dissolution of contractor team arrangements. Under
1598-705: The latest technologies. Under Chinese law, foreign enterprises are divided into several basic categories. Of these, five will be described or mentioned here: three relate to industry and services and two as vehicles for foreign investment. Those five categories of Chinese foreign enterprises are: the Sino-Foreign Equity Joint Ventures (EJVs), Sino-Foreign Co-operative Joint Ventures (CJVs), Wholly Foreign-Owned Enterprises (WFOE), although they do not strictly belong to Joint Ventures, plus foreign investment companies limited by shares (FICLBS), and Investment Companies through Foreign Investors (ICFI). Each category
1645-477: The law, it becomes possible to merge with a Chinese company for a quick start. A foreign investor does not need to set up a new corporation in China. Instead, the investor uses the Chinese partner's business license, under a contractual arrangement. However, under the CJV, the land stays in the possession of the Chinese partner. There is another advantage: the percentage of the CJV owned by each partner can change throughout
1692-402: The majority of funds and technology and the Chinese party provides land, buildings, equipment, etc. However, there are no minimum limits on the foreign partner which allows him to be a minority shareholder. The other format of the CJV is similar to a partnership where the parties jointly incur unlimited liability for the debts of the enterprise with no separate legal person being created. In both
1739-418: The observation package can also be removed and mounted on a tripod for concealed operation, as can the control unit from the vehicle should the crew want to use the entire system dismounted. Many Fenneks of the German Army are also equipped with Aladin miniature UAVs. Various weapons can be fitted, such as a 12.7 mm machine gun for the Dutch reconnaissance version, a Rafael Spike anti-tank missile on
1786-471: The project. The feasibility study must cover the fundamental technical and commercial aspects of the project, before the parties can proceed to formalize the necessary legal documentation. The study should contain details referred to earlier under Feasibility Study (submissions by the Chinese partner). There is basic law of the PRC concerning enterprises with sole foreign investment controls, WFOEs. China's entry into
1833-585: The right for licence production in 2004. It was developed for both the German Army and Royal Netherlands Army to replace their current vehicles. In April 2000, the prototype vehicle finished field trials and in December 2001 a combined order was placed. The Royal Netherlands Army ordered 410 (202 reconnaissance, 130 MRAT (medium range antitank) and 78 general purpose versions) and the German Bundeswehr ordered 222 (178 reconnaissance, 24 combat engineer and 20 joint fire support teams (JFST)). More Fenneks for
1880-531: The rules applicable to public procurement in the European Union , public bodies may insist that suppliers intending to provide goods and services through a joint partnership accept joint liability for the execution of the contract. According to a 2003 report of the United Nations Conference on Trade and Development , China was the recipient of US$ 53.5 billion in direct foreign investment, making it
1927-440: The same proportion as the increase in registered capital. The JV contract accompanied by the articles of association for the EJV are the two most fundamental legal documents of the project. The Articles mirror many of the provisions of the JV contract. In case of conflict the JV document has precedence. These documents are prepared at the same time as the feasibility report. There are also the ancillary documents (termed "offsets" in
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1974-435: The shareholders agreement as to the number of directors each founder can appoint to the board of directors; whether the board controls or the founders; the taking of decisions by simple majority (50%+1) of those present or a 51% or 75% majority with all directors present (their alternates/ proxy ); the deployment of funds of the firm; extent of debt; the proportion of profit that can be declared as dividends; etc. Also significant
2021-561: The shareholders, including debt, is equal to the number of shares purchased by each partner. Fennek The Fennek , named after the fennec (a species of small desert fox ), or LGS Fennek , with LGS being short for Leichter Gepanzerter Spähwagen in German (Light Armoured Reconnaissance Vehicle ), is a four-wheeled armed reconnaissance vehicle produced by the German company Krauss-Maffei Wegmann and Dutch Defence Vehicle Systems. The Turkish company FNSS Defence Systems acquired
2068-521: The solution is integrated into Bradley Fighting Vehicle and the US-UK Tracer prototype vehicle 2002 - Further UK MoD & DGA OA studies; risk reduction contract awarded 2004 - UK MoD & DGA contract to integrate 40CT into the MTIP and unmanned Toutatis turrets March 2008 - UK MoD select CT40 as a mandated item for Warrior IFV and FRES-Scout (now Ajax ) programmes April 2017: France orders
2115-508: The vehicle, or else remotely as part of a distributed air defense system. On the Dutch Fennek the primary weapon is the 12.7 mm machine gun. The vehicle is protected all-round against 7.62 mm rounds and additional armour can be added if the mission requires. The air conditioning system provides protection against nuclear, biological and chemical warfare and the crew compartment is protected against anti-personnel mines. Variants of
2162-426: The world's largest recipient of direct foreign investment for the first time, to exceed the US. Also, it approved the establishment of nearly 500,000 foreign-investment enterprises. The US had 45,000 projects by 2004 with an in-place investment of over 48 billion. Until recently, no guidelines existed on how foreign investment was to be handled due to the restrictive nature of China toward foreign investors. Following
2209-535: Was declared bankrupt in August 2004. A new company called Dutch Defence Vehicle Systems (DDVS) was created to continue the production of the vehicles for the Royal Netherlands Army. The Fennek has four wheels with selectable two or four wheel drive. It has a Deutz diesel engine producing 179 kW, giving it a top speed of 115 km/h (when the speedlimiter is turned off). Tire pressure can be regulated by
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