Rheinmetall plans to open at least four plants in Ukraine

Rheinmetall CEO Armin Papperger said this at the presentation of the company's 2023 results, Ukrinform reports, citing The Guardian.

The company said the factories in Ukraine would be for producing shells, military vehicles, gunpowder and anti-aircraft weapons.

“Ukraine is now an important partner for us, where we see a potential of between EUR 2-3 billion [in sales] per year," Papperger said.

Rheinmetall is also going to build a factory 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 was planning to ramp up production of artillery shells, as Ukraine's European allies struggle to boost output so they can provide Kyiv with more ammunition.

Rheinmetall in 2023 set up its first joint venture with a Ukrainian partner for the maintenance and repair of tanks in Ukraine.

Photo: dpa