Rheinmetall, KNDS Get Near $5 Billion German Army Order for Puma Tanks
By Joshua Kirby
Arms makers Rheinmetall and KNDS are set to earn billions of euros from an order for 200 tanks from the German military, adding to the windfall the companies are seeing as Europe steps up its defense spending.
The German army is expanding its fleet of Puma infantry fighting vehicles with the order for 200, Rheinmetall and KNDS said in a joint statement Friday.
Pumas are manufactured by Projekt System & Management, a JV between Rheinmetall and KNDS, which this week said it will go public with dual listings in Paris and Frankfurt as it emerges, like Rheinmetall, as a major beneficiary of rising demand for defense goods in a Europe clouded by worsening relations with Russia.
The first tanks from the order should be delivered in mid-2028, the companies said.
The order is worth around 4.2 billion euros ($4.92 billion), to be divided equally between the two companies, Rheinmetall and KNDS said. The news adds to a separate 1.7 billion-euro order for space-based reconnaissance data given this week to another Rheinmetall JV, ICEYE Space Solutions, by the German military.
Rheinmetall said this week it is it sell its civilian division and focus solely on its military business.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
December 19, 2025 06:49 ET (11:49 GMT)
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