Rheinmetall secures nearly €3 billion order for armored vehicles
Germany biggest armsmaker, Rheinmetall, said on Monday it will receive €3 billion ($3.5 billion) as part of a contract to supply 222 wheeled infantry fighting vehicles to the German and Dutch armed forces.
The order was given to Artec, a joint venture between Rheinmetall and French-German tank maker KNDS. The total value of the contract was put at €3.4 billion, meaning Rheinmetall is the deal’s big winner.
The contract includes a logistics package with spare parts, training equipment and special tools. An option for up to 248 additional vehicles is also included.
Shares in Rheinmetall rose sharply on Monday’s news.
The order is for the Jackel vehicle, which combines the chassis of the Boxer armored vehicle with the turret of the Puma infantry fighting vehicle. An initial 150 units are destined for the German army.
Rheinmetall said its Artec joint venture is also expected to secure future contracts, including as the main contractor for the RCH 155 wheeled self-propelled howitzer.
