The German defense concern Rheinmetall wants to reach an agreement with Ukrainian companies in the coming weeks on the joint production of tanks, ammunition and air defense systems, said the head of the company, Armin Papperger. The concern announced plans for the production of Panther tanks in Ukraine in early March.
“In this way, we will give Ukraine the opportunity to protect itself in the medium and long term,” Mr. Papperger said at the meeting of shareholders (quoted from Die Welt).
Rheinmetall previously talked about the desire to produce up to 400 Panther KF51 tanks per year in Ukraine. The cost of the plant is estimated at €200 million. In early April, the company announced the opening of a service center in Romania for weapons used by Kyiv.
Rheinmetall’s 2022 operating profit hit a record €754 million, up 27% from 2021. The head of Rheinmetall, Armin Papperger, said that the company’s profit is largely due to the “war in Europe.”