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Rheinmetall to sign 2.7 billion euro Algeria military vehicle deal: report
June 18, 2014 / 7:05 AM / 3 years ago

Rheinmetall to sign 2.7 billion euro Algeria military vehicle deal: report

2 Min Read

FRANKFURT (Reuters) - German defense group Rheinmetall is set to sign a 2.7 billion euro ($3.7 billion) deal in the coming weeks for the production of 980 Fuchs 2 military vehicles for Algeria, newspaper Handelsblatt reported on Wednesday, without citing sources.

Germany said this month it would adopt a more cautious approach towards arms exports after a 24 percent surge last year fueled a domestic debate on military sales.

It was the world's third-largest arms exporter after the United States and Russia from 2008 to 2012.

Handelsblatt said the contract for the Fuchs 2 armored personnel carriers is part of a bundle of deals with the north African country worth 10 billion euros for German companies including ThyssenKrupp and Daimler.

ThyssenKrupp will deliver two frigates, while Daimler will be a technology partner for the production of trucks and military vehicles, the paper reported.

Officials at the three companies were not immediately available for comment outside business hours.

A spokesman for the German economy ministry declined to comment.

($1 = 0.7345 Euros)

Reporting by Harro ten Wolde; editing by Jason Neely

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