Rheinmetall Shares Rise as British Army Orders More Vehicles

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By Joshua Kirby
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Shares in Rheinmetall AG climbed Monday after the German defense company said the British armed forces had ordered a further 100 Boxer armored vehicles.

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At 0802 GMT, shares were up 5.3% at EUR204.60.

The order was made by the UK government to ARTEC, a consortium made up of Rheinmetall and fellow German defense company Krauss-Maffei Wegmann, Rheinmetall said.

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The order was an option in a 2019 contract under which an initial 532 Boxer vehicles were ordered as part of the Mechanized Infantry Vehicle procurement project, the company said.
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The contract encompasses three previously-ordered variants of the Boxer, namely the infantry carrier, the command vehicle and the field ambulance, Rheinmetall said. The 100 vehicles will be delivered via European procurement organization OCCAR and will be produced in the UK and Germany, the company said.

Write to Joshua Kirby at [email protected]; @joshualeokirby

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Credit: www.marketwatch.com /

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