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

© 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