Deutz Explores Opportunities in Defence Sector Growth
(Reuters) - The chief executive of Germany's Deutz said the company is interested in opportunities in the defence sector, after the engine maker reported full-year results on Thursday.
"For us, defence is very important and interesting," CEO Sebastian Schulte told investors.
The firm has opportunities in many countries relating to engines, power packs, retrofitting and repowering, in particular in the field of smaller and medium-sized military vehicles, Schulte said, without giving details on which countries.
"Our understanding is very clearly that engines produced for heavy use and construction ... work very much on the battlefield as well," he added.
Deutz expects revenue stemming from defence orders to reach the "mid double-digit million-euro area" this year, Schulte said.
Shares in the Cologne-based firm have leapt 45% this year on optimism it could benefit from a planned surge in government spending in which defence investment is a major focus.
(Reporting by Paolo Laudani in Gdansk, Editing by Rachel More)
