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Headlines

Renk eyes 500-million-euro investment in armoured vehicles, CEO says

Published by Global Banking and Finance Review

Posted on June 30, 2025

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(Reuters) -German defence contractor Renk plans to invest about 500 million euros ($586 million) in armoured vehicles production capacity and development over the next few years to prepare for a boost in German government orders, its CEO told newspaper Handelsblatt.

"We expect that the German armed forces will need up to 1,000 new wheeled armoured vehicles by 2035. In addition, there could be demand for up to 600 new battle tanks and infantry combat vehicles each," CEO Alexander Sagel was quoted as saying.

($1 = 0.8538 euros)

(Reporting by Ludwig Burger, editing by Rachel More)