September 18, 2017 / 10:21 AM / a year ago

Rheinmetall, Rohde & Schwarz form JV to bid for German army deals

FRANKFURT (Reuters) - German defense firm Rheinmetall (RHMG.DE) and electronics group Rohde & Schwarz have agreed to form a joint venture to bid for German armed forces contracts, Rheinmetall said on Monday.

Rheinmetall will hold 74.9 percent and Rohde & Schwarz 25.1 percent in the new company, which plans to bid to modernize the German army’s mobile communications.

The army’s entire communication system is due to be modernized in an operation that will see thousands of vehicles retrofitted in the medium term, Rheinmetall said.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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