Germany's Rheinmetall set to build military trucks with Spain's Indra [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Yahoo! Finance
expand their strategic cooperation in the field of military vehicle systems. Rolf Vennenbernd/dpa German arms giant Rheinmetall is set to join forces with Spanish technology group Indra to build military trucks and other defence equipment. Rheinmetall chief executive Armin Papperger and Indra's Ángel Escribano signed a memorandum of understanding to formalize their cooperation in Dusseldorf on Thursday. The next step is to establish a joint venture later this year to bid for a Spanish army tender for the procurement of up to 3,000 military trucks. The two companies are also targeting a Spanish tender for armoured tactical vehicles, and the construction of battle tanks is also a possibility. Rheinmetall already works with Indra in the service sector, with the German company maintaining Leopard tanks in the Spanish army. “Indra is the market leader in Spain and Rheinmetall is the market leader in Germany,” Papperger told dpa. “We want to collaborate on vehicles, satellites,
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