Germany Sees Delay In Signing $4.5Bn MEADS Contract

German Ministry Sees Possible Delay In Signing Missile Defense Contract (excerpt)

Germany may not finish negotiations with Europe's MBDA and Lockheed Martin Corp on the MEADS missile defense system by the end of the year as planned, according to a document sent to lawmakers by a senior German defense ministry official.

The document, dated July 8 and sent by State Secretary Ralf Brauksiepe, said it was unclear if the project could be submitted to the parliamentary budget committee by the end of this year, or if it would slip into early next year. A copy of the document was seen by Reuters.

Company officials told Reuters last month they hoped to submit a final contract proposal for the Medium Extended Air Defense System (MEADS) by the end of July and wrap up negotiations on the $4.5 billion project by year's end.

Lockheed officials were not immediately available to comment on the ministry document.

Experts say it may be difficult to win parliamentary approval if negotiations drag on too long too close to Germany's national elections in September 2017.

Tobias Lindner, a member of the Green party, said the delay made him question if the ministry had fully understood the risks involved in the project. (ed of excerpt)

Click here for the full story, on the Reuters website.

-ends-

This entry passed through the Full-Text RSS service - if this is your content and you're reading it on someone else's site, please read the FAQ at http://ift.tt/jcXqJW.
Recommended article from FiveFilters.org: Most Labour MPs in the UK Are Revolting.

from Defense Aerospace - Press releases http://ift.tt/29LopYB
via Defense