(Reuters) -German defence contractor Renk plans to invest about 500 million euros ($586 million) in armoured vehicles production capacity and development over the next few years to prepare for a boost
Renk Plans €500 Million Investment in Armoured Vehicle Production
(Reuters) -German defence contractor Renk plans to invest about 500 million euros ($586 million) in armoured vehicles production capacity and development over the next few years to prepare for a boost in German government orders, its CEO told newspaper Handelsblatt.
"We expect that the German armed forces will need up to 1,000 new wheeled armoured vehicles by 2035. In addition, there could be demand for up to 600 new battle tanks and infantry combat vehicles each," CEO Alexander Sagel was quoted as saying.
($1 = 0.8538 euros)
(Reporting by Ludwig Burger, editing by Rachel More)
