Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Armsmaker Rheinmetall sets up maintenance hub in Romania for Ukraine weapons

Published 04/02/2023, 02:13 PM
Updated 04/02/2023, 02:17 PM
© Reuters. FILE PHOTO: Spanish Leopard 2 tank of NATO enhanced Forward Presence battle group attends Crystal Arrow 2023 military exercise in Adazi, Latvia March 29, 2023. REUTERS/Ints Kalnins/File Photo

(Reuters) - German armsmaker Rheinmetall is building a military maintenance and logistics hub in Satu Mare, Romania, expected to begin operation this month to service weapons used for the war in Ukraine, the company said on Sunday.

"The service hub should play a central role in maintaining the operational readiness of western combat systems in use in Ukraine and ensuring the availability of logistical support," a spokesperson for the company said.

The hub, located near the border with Ukraine, will service self-propelled howitzers, Leopard 2 and Challenger tanks, Marder infantry fighting vehicles, Fuchs armoured transport vehicles and military trucks.

"It is a key concern for us at Rheinmetall to provide the NATO forces and Ukraine with the best possible support," Chief Executive Armin Papperger said in a statement.

Rheinmetall founded a similar center in Lithuania in June 2022 to provide support to NATO vehicles in the Baltic states.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.