Largest defense producers in Germany and Italy create tank building alliance
The largest defense companies in Germany and Italy - Rheinmetall and Leonardo - have set up a joint venture to produce armored vehicles for the Italian army.
This was reported by Censor.NET with reference to ANSA.
"Defense giants Leonardo from Italy and Rheinmetall from Germany on Tuesday created a large Italian-German tank-building alliance," the statement said.
It is noted that the joint venture will be called Leonardo Rheinmetall Military Vehicles (LRMV) and will have a legal address in Rome. Own production will be concentrated in the Italian city of La Spezia.
Both companies will hold a 50% stake in the company.
The main task of LRMV is to develop and produce the main battle tank for the Italian army to replace the Ariete tanks.
As noted, the Italian-German tank alliance was formed to fulfill an order worth more than 20 billion euros over 10 years for the Italian army for 280 tanks and more than a thousand light-tracked vehicles to replace the old Arietes and Dardos infantry fighting vehicles.
In addition, the joint venture will also work for export.
Cooperation between Rheinmetall and Ukraine
Earlier it was reported that JSC "Ukrainian Defense Industry" and the German defense concern Rheinmetall launched the first workshop for the repair and production of armored vehicles in Ukraine as part of the joint venture.
On March 14, 2024, Armin Papperger, CEO of the German arms concern Rheinmetall, announced plans to set up at least four plants in Ukraine during a presentation of the company's 2023 results.
As reported, Rheinmetall has started building a new ammunition plant for Ukraine. The company has invested €300 million in the project.
