Germany’s defense company Rheinmetall plans to build a new factory for the production of artillery ammunition in Ukraine.
The German arms manufacturer and a Ukrainian partner company signed a respective declaration of intent on the sidelines of the 60th Munich Security Conference.
“We want to be an efficient partner for Ukraine in rebuilding the once strong defense industry in Ukraine and ensuring the autonomy of Ukrainian capacities,” said Rheinmetall’s CEO, Armin Papperger, commenting on the decision.
According to the report, Ukraine’s Minister for Strategic Industries, Oleksandr Kamyshin, was present at the signing ceremony.
The joint venture is expected to produce a six-figure number of shells per year. (Ukrinform/Business World Magazine)