DEUTZ is expanding its involvement in the defense business through a partnership.
As part of this, the engine manufacturer wants to participate in ARX Robotics’ strategic financing round, the company announced on Thursday in Cologne. The conclusion is expected in the next few weeks. The move is part of a broader strategic partnership between the two companies. Financial details were not disclosed.
As part of the partnership, DEUTZ drive systems will be used in unmanned land vehicles from ARX Robotics. This receives access to drive systems, mobile energy infrastructure and the production network. DEUTZ had already taken over the drone propulsion specialist Sobek at the beginning of September and thereby expanded its armaments business.
Investors were pleased. The DEUTZ share recently rose by 3.63 percent to 8.85 euros via XETRA.
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COLOGNE (dpa-AFX)
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