Rheinmetall expands its' influence with new purchase

Rheinmetall has purchased Stork PWV from its' Dutch parent Stork NV.

"Stork PWV (has been) responsible for the Dutch share of the Boxer programme, which is worth around €500 million and encompasses the development and production of 200 vehicles for the Royal Netherlands Army. Rheinmetall is producing 85 of the 272 vehicles ordered by Germany's Bundeswehr, representing €212 million for the Dusseldorf-based company, which is also in charge of supplying the electronic components in all of the German and Dutch vehicles, generating an additional 60 million in sales."

This means Rheinmetall is now the majority shareholder (64% with the gain of Stork's 50%) in the Artec consortium that builds the Boxer armoured vehicle. This leaves Krauss-Maffei Wegmann (KMW) holding the remaining 36%.

Sources: Various and Rheinmetall Press Release