Rheinmetall arms maker to set up at least four production plants in Ukraine
The Rheinmetall arms concern plans to set up at least four plants in Ukraine, AFP reports.
The German plants will produce shells, military equipment, gunpowder, and anti-aircraft weapons.
"Ukraine is now an important partner for us. Here we see a potential of two to three billion euros (sales – Ed.) per year," said Rheinmetall's CEO.
The largest German manufacturer already announced an agreement with a Ukrainian company to produce artillery shells.
Construction of the plant is expected to begin soon. It will be modeled after an ammunition plant that Rheinmetall is building in Germany.
The concern's CEO announced record sales of €7.2 billion in 2023, but the group intends to exceed the €10 billion mark.
Rheinmetall is currently Ukraine's most important defense-industrial partner, supplying military equipment, anti-aircraft systems, ammunition, military trucks and mobile medical equipment, as well as providing services.
The German Federal Antimonopoly Office allowed Rheinmetall to set up a joint venture with Ukraine in late September. The company was reported to be based in Kyiv.
