Billion EURO contract to KMW for PUMA IFV

Krauss-Maffei Wegmann (KMW) has received the largest single order in its recent history with a commission for series production of the Puma Infantry Fighting Vehicle (IFV). PSM GmbH (Project System and Management), a joint venture in which KMW and Rheinmetall AG of Düsseldorf each hold a 50% stake, was awarded a contract by the Federal German Defence Technology and Procurement Agency (BWB) for the delivery of 405 newly developed combat vehicles. The total contract value is approximately EUR 3.1 billion. The delivery of the IFVs to the German Bundeswehr will start 2010. The Budget as well as the Defence Committee of the German Parliament (Bundestag) have previously given the green light for the start of what is currently the largest European armaments project for land forces. “The PUMA contract is of key significance both for the Bundeswehr and the industry. It sets unique technical standards and will ensure that decisive system skills are retained in Germany, which are vital for maintaining our international competitiveness,” said Frank Haun, CEO of KMW, on signing the contract.