Germany to Order Ships, Armored Vehicles Worth Up to €7 Billion [BNN Bloomberg (Canada)]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: BNN Bloomberg
much as €7 billion ($7.6 billion) for two navy frigates and hundreds of armored transport vehicles. The government will exercise an option to buy two additional navy F126 frigates for about €3 billion, taking the total number to six, according to people familiar with the plans, who asked not to be identified discussing confidential information. The government will also firm up an order worth as much as €4 billion for as many as 900 Fuchs armored transporters manufactured by Rheinmetall Landsysteme GmbH for delivery starting in 2025, the people said. The main contractor for the frigate project is a unit of Damen Schelde Naval Shipbuilding BV of the Netherlands, and its partners are Thales SA of France and Germany's Blohm+Voss. Spokespeople for the defense ministry in Berlin did not immediately respond to a request for comment. The big-ticket procurements, which will require approval from lawmakers in the lower house of parliament, are part of Germany's push to modernize the B
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