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Report: Krauss-Maffei-Wegmann To Lose Saudi Arms Contract

General Dynamics considered as alternative

Jul. 12, 2013 - 09:22AM   |  
By AGENCE FRANCE-PRESSE   |   Comments
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FRANKFURT — German defense technology group Krauss-Maffei-Wegmann is about to lose a contract worth at least 5 billion euros from Saudi Arabia, the daily Handelsblatt reported Friday.

The Saudis are losing patience over Berlin’s foot-dragging on a deal, worth US $6.5 billion, to deliver 270 Leopard combat tanks, which is the subject of fierce controversy in Germany, the newspaper said.

As a result, Riyadh is considering awarding the contract to US giant General Dynamics.

Handelsblatt also reported that KMW was in “advanced” merger talks with French rival Nexter.

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