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German Parliament Green Lights Puma Procurement

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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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