Rheinmetall, Krauss-Maffei Wegmann Set to Win 410 Armored Vehicle Order
(Source: wire service reports; issued Nov. 12, 2004)
FRANKFURT --- A joint venture company owned by Rheinmetall De-Tec and Krauss-Maffei Wegmann expect to shortly win an order from the German government to build 410 Puma infantry combat vehicles, according to a report in today’s Financial Times Deutschland newspaper, which cited government sources.
The cost of the contract is estimated at about 3.05 billion euros.
Although it has not commented on the deal, Rheinmetall said in its nine-month financial statement that a number of valuable contracts are likely to be signed before the end of the calendar year.
"Among the contracts expected before year-end is the new Puma infantry tank destined for the German armed forces. Fifty percent of this large-scale project to be handled together with a joint venture and worth around 3 billion euros will be billed by Rheinmetall DeTec," Rheinmetall’s statement said.
The budget committee of the Bundestag is expected to approve the order by mid-December, according to the newspaper, but a defense ministry spokesman said the Puma program is not yet on the committee's agenda.
The Puma, which is to be delivered to the German army beginning in late 2009, will replace the over 30 year old Marder infantry fighting vehicles.
The order will secure about 5,000 jobs within Germany’s army equipment industry.
-ends-
