Rheinmetall to build at least four manufacturing facilities in Ukraine
German defense conglomerate Rheinmetall plans to invest in at least four plants in Ukraine, which will produce ammunition, military equipment, gunpowder, and anti-aircraft systems, Rheinmetall CEO Armin Papperger said on March 14, as reported by Le Monde.
According to him, Ukraine has become a “key partner” for the company.
Read also: Germany unable to fully supply Ukraine with artillery shells – Rheinmetall CEO
"We see potential sales from EUR 2-3 billion [$2.18-3.27 billion] per year [in Ukraine]," said Papperger.
Read also: Germany's Rheinmetall to supply Ukraine with 25 Leopard-1 tanks
The Dusseldorf-based corporation had EUR 7.2 billion ($7.84 billion) in revenue in 2023 and forecasts to reach EUR 10 billion in 2024.
Read also: Germany’s Rheinmetall plans by 2024 to launch plant in Ukraine to build Fuchs and Lynx vehicles
Papperger added that the company plans to produce 700,000 rounds of artillery ammunition in 2025 and up to 500,000 this year.
In the medium term, Rheinmetall expects to produce "1.1 million 155mm artillery shells" overall.
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