The heads of the Ukrainian state-owned company Ukroboronprom and Rheinmetall have founded a joint venture.
(Photo: Bloomberg, Imago, PR)
Dusseldorf, Berlin The armaments group Rheinmetall becomes the central supplier of local equipment in Ukraine. The company has founded a joint venture with the Ukrainian state-owned company Ukroboronprom, as the Dax group confirmed to the Handelsblatt. “The contracts have been signed,” said CEO Armin Papperger.
The cooperation includes the maintenance and repair of armored vehicles in Ukraine, in parallel the construction of tanks is being prepared. “Ukraine benefits from a comprehensive technology transfer and a short-term delivery of military equipment from Germany,” said Papperger.
Rheinmetall will hold a 51 percent majority in the new company and will also take over the management of the company. The management comes from Rheinmetall. After the news became known, the share increased significantly and closed in Xetra trading with a plus of almost three percent.
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