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Saturday, September 13, 2014

Rheinmetall eyes rival KMW and Thyssen submarine arm

Rheinmetall AGGerman tank manufacturer Rheinmetall is interested in a takeover of rival Krauss Maffei Wegmann (KMW) and ThyssenKrupp's submarine business, German daily Handelsblatt said on Friday, citing unnamed company sources.

Rheinmetall and ThyssenKrupp declined to comment. Krauss Maffei Wegmann was not immediately available for comment.

Rheinmetall wants to bulk up in response to efforts by KMW to combine with French rival Nexter, a move designed to help them withstand defence-spending cuts, the paper said.

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