Hensoldt to Provide Thales With Extra Naval Radars for German Frigates

By Cristina Gallardo

Hensoldt said it will provide Thales with two additional naval radars for the F126 frigates the French company is manufacturing for the German navy.

The German group said Monday that Thales expanded its original order, placed in 2022 and covering radars for four F126 frigates, bringing the contract's total value to more than 200 million euros compared with more than 100 million euros previously.

The companies had originally agreed for delivery of the equipment to begin in 2025, but following the expansion of the order, the delivery period agreed upon two years ago will be also be extended, Hensoldt said.

Hensoldt's shares were down 4.4% at 34.64 euros in early afternoon trade, dragged along with other European defense stocks by a media report that Germany is planning to halt new requests for military aid from Ukraine.

According to the Frankfurter Allgemeine Zeitung newspaper, Germany's military support for Ukraine is set to be almost halved in 2025 and cut to less than a 10th of the current amount in 2027, as part of a coalition plan to reduce overall government spending.

Write to Cristina Gallardo at cristina.gallardo@wsj.com

(END) Dow Jones Newswires

August 19, 2024 08:42 ET (12:42 GMT)

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