STX strikes $60M deal with Peruvian Army for Hyundai Rotem's armored vehicle

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STX strikes $60M deal with Peruvian Army for Hyundai Rotem's armored vehicle

Published: 02 Dec. 2024, 17:39

Hyundai Rotem's K808 Baekho wheeled armored vehicle [YONHAP]

STX, a Korean general trading firm, said Monday that it has signed a $60 million contract with the Peruvian Army's weapons manufacturing body to export 30 armored vehicle units to the South American nation.

Under the deal with the Peruvian Army Arsenal, STX will ship 30 Baekho K808 armored vehicles manufactured by Korean defense equipment firm Hyundai Rotem to the Peruvian Army.

The deal is worth roughly 9 percent of STX's average annual sales, the company said.

The trading firm said it is currently in discussions about follow-up orders and is exploring opportunities for long-term equipment supply and technical cooperation with Peru.

The company said the deal marks the result of close cooperation with the Peruvian Army over the past years. STX said it expects continued revenue growth in the South American country over the mid to long term.

Yonhap