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MarketScreener Homepage  >  Equities  >  Xetra  >  Rheinmetall    RHM   DE0007030009

RHEINMETALL

(RHM)
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Rheinmetall : UK Ministry of Defence orders more than 500 Boxers in €2.6 billion contract

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11/08/2019 | 04:50am EST

The Artec consortium, led by Rheinmetall and Krauss-Maffei Wegmann (KMW), has signed a contract with the UK Ministry of Defence (MoD) to produce more than 500 Boxer 8x8-wheeled armoured vehicles for the British Army. The total current value of the order is approximately €2.6 billion (£2.3 billion).

The contract has been awarded to Artec via the European procurement agency Organisation for Joint Armament Cooperation (OCCAR).

The contract awarded to Artec falls under the UK's Mechanised Infantry Vehicle (MIV) procurement programme and includes more than 500 vehicles. Artec will each sub-contract

50% of the order volume to Rheinmetall and Krauss-Maffei Wegmann. The total number of Boxer vehicles already delivered by Artec or currently on order now exceeds 1,400 vehicles.

The Boxer vehicles ordered by the British Army will be supplied in several different configurations, including an armoured personnel carrier, command vehicle, specialist carrier and field ambulance. Delivery of the vehicles is expected to start from 2023.

Most of the production will take place in the UK, ¬safeguarding and creating a substantial number of British jobs. Full-scale production will begin in Germany, but 90% of the Boxer vehicles destined for the British Army will be produced in the UK, principally at plants operated by Rheinmetall BAE Systems Land (RBSL) and KMW's subsidiary WFEL.

This order marks the return of the UK to a European defence programme having taken part in the Boxer project when it was still in its infancy. Boxer is now on its way to becoming one of NATO's standard vehicles.

The Boxer is a highly protective 8x8-wheeled armoured vehicle. Its modular architecture enables more operational configurations than any other vehicle system. At present, some 700 vehicles in twelve different versions are on order from three different NATO nations: Germany, the Netherlands and Lithuania. Australia has also ordered 211 Boxer Combat Reconnaissance Vehicles (CRV) in seven variants, the first of which was recently delivered.

Artec GmbH was established in 1999. It is a joint venture of Krauss-Maffei Wegmann GmbH & Co. KG, Rheinmetall Military Vehicles GmbH, and Rheinmetall Defence Nederland B.V.. The company coordinates serial production of the Boxer and serves as the point of contact for export enquiries.

Disclaimer

Rheinmetall AG published this content on 08 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2019 09:49:00 UTC

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