September 28, 2007 -- Iveco, the truck and bus unit of Italian carmaker Fiat, has won an order from the Brazilian army to supply new models of armored vehicles for troop transport, Brazil's Defense Ministry said.
Brazil's armed forces are interested in a production of 1,200 vehicles of Iveco, the Defense Ministry added. The contract between the Brazilian army and Iveco is expected to be signed in October or November 2007. Iveco has a truck and van making plant in Sete Lagoas, in Brazilian central state Minas Gerais state.
The army wants to replace the armored vehicle for troop transport Urutu, produced by Brazilian brand Engesa, which went bankrupt 14 years ago. Brazil will also use the design and studies on the armored vehicle which Iveco has made in Italy.
Brazilian President Luiz Inacio Lula Da Silva and his Defense Minister, Nelson Jobim, have recently announced a plan of re-equipping the armed forces, which will lead to a rise in the 2008 budget.
Source: ANSA - English Corporate News Service
