German arms concern Rheinmetall plans to open at least four plants in Ukraine.
This was announced by its director Armin Papperger on 14 March during the presentation of the company’s 2023 results, Kommersant ukrainskyi
citing The Guardian.
It is planned that Rheinmetall’s plants in Ukraine 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 (in sales – ed.) per year,” said Rheinmetall’s CEO.
Last month, Germany’s largest military equipment manufacturer announced an agreement to produce artillery shells in Ukraine.
Construction of the plant is expected to start soon. Its location is not disclosed for security reasons. It will be modelled on an ammunition plant that Rheinmetall is building in Germany.
During the presentation, the Group’s CEO announced record sales of €7.2 billion in 2023. This year, Papperger added, the group intends to exceed €10 billion.
Rheinmetall is also going to build a plant in Lithuania, where Germany plans to deploy a brigade-sized military unit on a permanent basis to help secure NATO’s eastern flank.
The company said it plans to ramp up production of artillery shells as Ukraine’s European allies try to increase production to provide Kyiv with more ammunition.
As a reminder, in January it was reported that the German defence concern Rheinmetall intends to build a new ammunition plant to meet the needs of Germany and Ukraine.