![]() The contract purchased 80 command liaison and reconnaissance vehicles of the latest military standards. In 2022, Luxembourg and NATO signed a $367 million agreement to replace the country’s protected response and high-mobility multipurpose wheeled vehicles. This approach enables the country to equip its soldiers with “mission-proven quality products” already employed by other NATO members. The agreement supports the Luxembourg military’s efforts to transition from its aging Steyr AUG bullpup assault rifles. Luxembourg has also opted for HK417 A2 7.62×51-millimeter assault rifles and HK269 40-millimeter grenade launchers.ĭeliveries are scheduled for completion by 2024. The 8.4-million euro ($9.3 million) award orders the HK416 A7 5.56×45-millimeter assault rifle in 11 and 14.5-inch barrel variants. "It does make me mad," Frei told CNBC, accusing 3M of "trying to scheme away through either bankruptcy or through these arguments to try and avoid responsibility for what they've done.German arms developer Heckler & Koch has received a contract to supply NATO-standard light weapons to the Luxembourg Armed Forces. Oral arguments for the appeal of the initial bellwether trials are scheduled for May 1.Īs for Frei, he expects his case to go to trial by year-end. The service members suing 3M are accusing the company of using the bankruptcy to shield itself and have asked a judge to dismiss it.Ī ruling on that potential dismissal is scheduled for April. In a legal maneuver that would indemnify 3M, the company's attorneys attempted to put its subsidiary Aearo Technologies into bankruptcy protection, and put aside a $1 billion trust to settle the suits. But the vast majority of these claims do not have complete information," said Rucker. 3M told CNBC that estimate was "completely speculative." "Do the math on the number of plaintiffs, which is north of 200,000 and you take the average settlement value - the simple math on that gets you well north of $10 billion to $20 billion," JPMorgan analyst Stephen Tusa told CNBC. Mizuho's executive director Brett Linzey wrote in a note to clients that "even the low end of previously settled Combat Arms lawsuits (or even half that amount) equates to some pretty healthy liabilities 3M may have to address."Īccording to one Wall Street analyst, 3M's liability risk could potentially be in the billions. Soon after, there was a flood of new suits from hundreds of thousands of other service members. Rucker conceded that military audiologists were "well trained in how to train people and fit people for the use of earplugs," but maintained, "it should have worked and protected their hearing in environments where it was appropriate to be using these earplugs."Īfter a whistleblower suit was filed in 2016, accusing 3M of selling "dangerously defective" earplugs, the company agreed to pay $9.1 million to the Department of Justice to resolve the allegations without admitting liability. ![]() "All of that testing shows the Combat Arms earplugs, when properly fitted and when used according to its instructions, work to protect people's hearing," he said. military and tested by the Air Force, Army, National Institute for Occupational Safety and Health, and others. Rucker said the plugs were designed in collaboration with the U.S. "The purpose of the creation of was to collaborate with the military to solve one of the longest-standing problems they have had, that soldiers won't wear their hearing protection around loud noises and in combat," Rucker said. Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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