SINGAPORE (Sept 10): ST Engineering and Germany's Rheinmetall will collaboratively pursue business opportunities for development and sales of defence products, systems and solutions.
In a filing on Tuesday night, ST Engineering says its Land Systems unit and Rheinmetall have signed a Memorandum of Understanding (MOU) to jointly explore areas of cooperation involving complementary capabilities in design, development, production, global marketing, sales and support of defence systems and solutions related to protection systems and combat vehicles.
Under the area of combat vehicle, the partnership will explore opportunities in the armoured tracked vehicle market, which includes marketing, development, manufacturing, assembly; and Integrated Logistic Support activities such as training and aftersales.
Dr Lee Shiang Long President, Land Systems arm of ST Engineering, says, “This partnership speaks volumes of industry collaborations that leverage the strengths of both partners to bring about new opportunities in the development of products and expansion of market reach.”
Rheinmetall is the manufacturer of the Leopard 2 main battle tank, which is considered one of the best tanks in the world and deployed by many nations, including the Singapore Armed Forces. The tank is armed with Rheinmetall's 120mm smoothbore gun. Rheinmetall also makes a range of ammunition for the Leopard 2 as well as supply the tank's fire control technology and C4I (Command, Control, Communications, Computers, and Intelligence) systems.
As at 10.53am, shares in ST Engineering are trading at $3.91, up 11.7% year to date.