Friday, July 19, 2024
Friday, July 19, 2024
Home » Rheinmetall Plans to Open at Least 4 Plants in Ukraine

Rheinmetall Plans to Open at Least 4 Plants in Ukraine

by Paul Williamson
0 comment 43 views

German arms manufacturer Rheinmetall plans to set up at least four factories in Ukraine to produce artillery shells, military vehicles, gunpowder, and anti-aircraft weapons, the AFP reported on March 14.

This could present a boost for Ukrainian defense production amid ammunition shortages and dwindling supplies from the U.S.

“Ukraine is now an important partner for us, where we see a potential of between 2 and 3 billion euros ($2.18-$3.27 billion) per year,” Rheinmetall CEO Armin Papperger said during a presentation of the company’s 2023 results, the AFP wrote.

Previously, the company signed a contract with the Ukrainian Defense Industry (Ukroboronprom) in October 2023 to repair and produce armored vehicles directly in Ukraine in a joint plant.

During the Munich Security Conference in February, Papperger signed a memorandum of intent with Ukraine’s Strategic Industries Minister Oleksandr Kamyshin to produce artillery shells in another joint plant based in Ukraine.

Source: The Kyiv Independent

You may also like

Yew Media is a global leader in the online news. We seek to inform and engage with our readers. Staffed 24 hours, seven days a week by a dedicated team around the globe, we deliver news from journalists around the world. We are contrarian truth-seekers and truthtellers. We are journalists united by a mission to inform and engage with our readers. We bear witness to history as it unfolds and explain not just what happened, why it happened and what it means to our readers and the public. We are contrarian, we are committed to the news, speaking truth to power.

Yew Media, A Media Company – All Right Reserved.