Rheinmetall has set up a joint venture with the State Concern Ukroboronprom to repair and later manufacture tanks in Ukraine. This was reported by Handelsblatt with reference to Rheinmetall CEO Armin Papperger.
“The contracts have already been signed,” he said in an interview and added that the cooperation will cover the maintenance and repair of armoured vehicles in Ukraine, while specialists will also prepare for the construction of tanks.
Handelsblatt adds that Rheinmetall will hold a 51% majority stake in the joint venture and will also provide management. The concern did not stop there – in the coming days, the German manufacturer plans to sign contracts to create two more joint ventures. They will produce ammunition and air defence equipment.
“Ukraine will benefit from comprehensive technology transfer and short-term supplies of military equipment from Germany,” said Armin Papperger in an interview with Handelsblatt.
After the start of Russia’s full-scale invasion of Ukraine, Rheinmetall’s defence spending increased, as Germany also provided aid and weapons to Kyiv to help the Ukrainian Armed Forces repel the Russian invaders.
We recently wrote that Armin Papperger announced a number of cooperation and joint venture agreements with Ukrainian companies that the group plans to sign in the coming weeks. “In this way, we are enabling Ukraine to be able to defend itself in the medium and long term,” the CEO said, adding that “our newly developed Panther main battle tank can roll off the assembly line at a Ukrainian plant in a similar way,” referring to the way the Lynx BMP is produced at a plant in Hungary.
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