Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

BAE Systems loses out to Rheinmetall on A$3.2bn Aussie order

The Boxer armoured vehicle was developed by ARTEC, a joint venture between Krauss-Maffei Wegmann, Rheinmetall MAN Military Vehicles and Rheinmetall Military Vehicles Nederland
A Boxer armoured vehicle
The Boxer design provides 8×8 armoured personnel carrier and command vehicle versions and also allows for the development of other variation models using the same base vehicle

BAE Systems PLC (LON:BA) has lost out to Rheinmetall on a A$3.15bn order for armoured reconnaissance vehicles.

The Australian defence ministry said it would enter exclusive final negotiations with Rheinmetall for the provision of 211 Boxer multi-role armoured vehicles.

The vehicles will be built by workers in Australia using Australian steel. The project should create up to 1,450 jobs, the defence ministry said.

Shares in BAE were down 0.65 at 577.6p in a rising market.

View full BA profile View Profile

BAE Systems Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use