Pulled Option: Rheinmetall Stock Rises: Another 100 Wheeled Tanks For British Army: Main Battle Tanks To Be Delivered To Ukraine | news

Britain has now withdrawn a corresponding option from a 2019 supply contract, as Rheinmetall announced in Düsseldorf. The vehicles now on order will be produced in both the UK and Germany.

Rheinmetall wants to deliver Leopard 1 main battle tank to Ukraine

The Rheinmetall armaments group is preparing to deliver main battle tanks to Ukraine. The Handelsblatt quotes CEO Armin Papperger as saying that it is the Leopard 1, the predecessor of the Leopard 2 currently in use in the German armed forces. “The first Leopard 1 could be delivered in six weeks,” Papperger said, according to the Handelsblatt. The prerequisite for this is the approval of the federal government.

According to Papperger, Rheinmetall could supply up to 50 Leopard 1s to the Ukrainian armed forces. These are old stock from other militaries often returning used equipment to vendors. The condition of the vehicles is currently being reviewed, Papperger told the newspaper. Delivery can be made through the subsidiary Rheinmetall Italia and take place in a period of up to three months.

According to Papperger, Ukrainian soldiers can be trained to operate the Leopard 1 in just a few days. The prerequisite for this is that they are military trained, he said. The CEO contradicted statements that training Western tanks for use in Ukraine would take too long.

This is how the Rheinmetall stock reacts

Rheinmetall shares returned to their all-time high in trading on Monday. They recently gained 6.31 percent to EUR 206.50 via XETRA as the best value on the MDAX. After hitting a record high of nearly €210 in the middle of last week, they lost some momentum. As a German arms group, Rheinmetall is one of the main beneficiaries of the billions in investments in the Bundeswehr announced by the federal government.

The main driver was the message that Britain is ordering a further 100 Boxer wheeled armored vehicles.

In the morning, in support of the course, a dealer initially noted that Ukraine intends to buy 35 Marder tanks from the Düsseldorf company.

FRANKFURT (Dow Jones) / (dpa-AFX)

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