Rheinmetall intends to open four weapons plants in Ukraine
The groundbreaking ceremony for the plant, the exact location of which has not been disclosed, will take place soon
German arms manufacturer Rheinmetall has announced plans to open at least four factories in Ukraine amid forecasts of record profits from arms sales this year.
Source. This was reported by AFP.
The company said that the plants in Ukraine will be designed to produce shells, combat vehicles and air defence systems.
"Ukraine has become an important partner for us, and we see the potential for sales revenues of €2 to €3 billion a year," Rheinmetall CEO Armin Papperger said at the presentation of the company's 2023 results.
The war in Ukraine has contributed to the growth of Germany's arms industry, the agency notes.
The Düsseldorf-based concern, which produces parts for Leopard tanks, reported record sales of €7.2 billion last year and plans to reach €10 billion in 2024.
In February, Rheinmetall signed an agreement with a Ukrainian company to produce artillery shells in Ukraine. The company already has a joint venture to repair military equipment in Ukraine.
The company will soon lay the foundation stone for the plant, the exact location of which has not been disclosed.
Background. As reported, Rheinmetall will open an ammunition plant in Ukraine. The plant is expected to produce six-figure quantities of 155 mm ammunition per year.
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