Nato signs $700 mn Stinger missile contract to boost arms production

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The story "Nato signs $700 mn Stinger missile contract to boost arms production" was covered 1 weeks ago by Business Standard, a news publisher based in India.

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Nato signs $700 mn Stinger missile contract to boost arms production - Business Standard

Quick Summary:

Outgoing NATO Secretary General Jens Stoltenberg announced the contract Tuesday at a Chamber of Commerce industry day focused on increasing NATO member countries' defense manufacturing capabilities to deter future attacks.

NATO has signed a nearly $700 million contract to have member countries produce more Stinger missiles, one of many steps the alliance is pressing at its summit in Washington to get each country to boost its own weapons production capabilities.

The Stinger is a portable surface-to-air defense system that can be carried and fired by troops or mounted to a vehicle and used as short-range defense against aircraft.