German defense group wins $3.7 billion Algeria contract

Published June 18th, 2014 - 08:28 GMT

German defence 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 per cent surge last year fuelled a domestic debate on military sales.

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

Handelsblatt said the contract for the Fuchs 2 armoured 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.

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