NEWS

Deal for 170 tanks signed

Greece and German arms company Krauss-Maffei Wegmann (KMW) yesterday signed a contract for 170 Leopard tanks and 20 support vehicles, worth about 1.6 billion euros. The deal also includes the delivery of logistics and testing services. Production will involve several Greek partners, notably the Hellenic Vehicles Industry (ELVO), the Greek Armaments Industry (EVO), telecommunications firm Intracom, Metka, Sonak, Valpak, Hellas Trucks and Thales Sensors, the Ministry of Defense said. KMW’s share of the contract will amount to about 37 percent of its total value, roughly 620 million euros, a KMW spokesman said. Under the terms of the contract, KMW will deliver the tanks to the Greek army in 2006-2009. «With this delivery… a thorough modernization of the Greek armored forces is achieved and their capability enhanced,» the ministry statement said.