This is biggest order win with the US Marines.
ST Engineering can win billion-dollar contracts with the US Marines with the launch of amphibious combat vehicle Terrex 2.
ST Engineering and its partner Science Applications International Corp (SAIC) was recently awarded a deal for 13 prototypes of the vehicle.
If selected, SAIC and ST Engineering can secure a much larger contract involving the construction of 204 Terrex 2 vehicles, which is estimated to be worth US$1.3 billion.
According to UOB Kay Hian, the prototype deal marks a significant in-road to US military procurement. The deal could pave the way for further contract wins, UOB Kay Hian said.
“This would be STE’s most significant contract win with the US Marines to date. The award is a testament of Terrex 2’s capabilities and could pave the way for further contracts, especially within Australia,” said UOB Kay Hian.
The report added that ST Kinetics, together with its partner Elbit Systems, is bidding for Australia Department of Defence’s renewal of armoured combat vehicles for a 200+ vehicle order. An award is expected within the month.
Do you know more about this story? Contact us anonymously through this link.