logo-loader
Industry & servicesAerospace
viewBAE Systems

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.

Quick facts: BAE Systems

Price: 0 0

LSE:BA
Market: LSE
Market Cap: £0.00
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Remote Monitored Systems' Gyrometric hails two significant new contracts for...

David Orton, chief executive of GyroMetric Systems, which is 58% owned by Remote Monitored Systems PLC (LON:RMS), talks Proactive London's Andrew Scott through their 'novel and disruptive' technology which measures the parameters of rotating shafts. The firm's recently entered agreements for...

13 hours, 6 minutes ago

2 min read