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German Parliament Green Lights Puma Procurement

The German Bundestag's budget committee recently cleared the way today for the procurement of 405 new Puma infantry fighting vehicles for the Bundeswehr. That could mean a combined total of about $4.4 billion in gross sales for Munich-based Krauss-Maffei Wegmann GmbH & Co. KG (KMG) and Rheinmetall AG of Duesseldorf, the companies said in a statement. KMG and Rheinmetall each hold a 50 percent stake in the company tasked with the project, PSM GmbH of Kassel. Both hailed the decision…

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