According to a Friday article in the news magazine Spiegel, German defence supplier Hensoldt (HAGG.DE) has requested government approval for a number of politically contentious projects with Gulf states.
According to the report, which was based on an internal company presentation, Hensoldt, in which the government owns a 25.1% stake, wants to provide parts to the United Arab Emirates (UAE) for the Cobra artillery tracking system.
According to the company, approval will be granted for this.
When questioned by Reuters about ongoing projects, a Hensoldt spokesperson declined to comment and claimed the company had not broken any laws. The spokesperson claimed that no industry is subject to stricter regulation than the arms industry.
The German ministry of economy declined to comment on specific business-related disputes. Due to its minority shareholding, it was stated that the German government ‘cannot intervene in operational business decisions’ of Hensoldt.
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