Bloomberg News

Rheinmetall-MAN JV Selected as Preferred Tenderer by Australia

December 12, 2011

Dec. 12 (Bloomberg) -- Australia has selected a joint venture between Rheinmetall AG and MAN SE as the preferred tenderer to provide up to 2,700 vehicles to the government.

The joint venture will now enter into “detailed negotiations” to sell the medium and heavy vehicles, the Australian Defence Ministry said on its website today.

Rheinmetall rose as much as 1.12 euros, or 3.25 percent, to 35.39 euros and was up 1.2 percent as of 9:39 a.m. in Frankfurt trading. MAN was down 0.9 percent.

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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