Rheinmetall receives a new order

The German defence contractor Rheinmetall has received an order from the Bundeswehr to modernize the Fuchs armoured reconnaissance vehicle.

For the first time, five vehicles are to be upgraded to a new state of readiness, the Düsseldorf-based group announced. The volume of the order is in the lower double-digit million euro range. Work is scheduled to begin this month and is expected to be completed in July 2024.

In XETRA trading, Rheinmetall stock climbs intermittently by 1.03 percent to €80.30.