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Rheinmetall in talks on building tank factory in Ukraine - report

Published 03/04/2023, 06:36 AM
Updated 03/04/2023, 06:40 AM
© Reuters. FILE PHOTO: A KF51 Panther tank manufactured by Rheinmetall is displayed at the Eurosatory international defense and security trade fair in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit Tessier

FRANKFURT (Reuters) - German defence contractor Rheinmetall is in negotiations about building a tank factory in Ukraine, the newspaper Rheinische Post reported on Saturday, citing an interview with CEO Armin Papperger.

Rheinmetall makes ammunition, other military equipment and also the Leopard tanks that Germany decided to send to Ukraine, which the company produces jointly with Krauss-Maffei Wegmann.

"A Rheinmetall plant can be set up in the Ukraine for around 200 million euros ($212.64 million), which can produce up to 400 Panthers a year," Papperger was quoted as saying. Panthers are the company's latest battle tanks models.

"Talks with the Ukrainian government are promising and I hope for a decision in the next two months," he added.

While the Western Allies were sending enough arms for Ukraine to defend itself, the Ukrainians currently do not have enough equipment to fully retake their territory, Papperger said.

He said Ukraine needed 600 to 800 tanks and the construction of new tanks must start quickly to achieve that number, he said.

Rheinmetall will join Germany's blue chip DAX index this month, Deutsche Boerse (ETR:DB1Gn) said on Friday, citing increased defence spending due to the war in Ukraine.

© Reuters. FILE PHOTO: A KF51 Panther tank manufactured by Rheinmetall is displayed at the Eurosatory international defense and security trade fair in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit Tessier

Its shares hit a record high in January after Germany's decision to send the heavy Leopard tanks to Ukraine.

($1 = 0.9406 euros)

Latest comments

Why not try peace talks? It wouldn't kill anybody to try peace talks.
Hitler said  1938 n Munich, Bayern - Czech border is the last of my demands....several months later he occupied the rest of Czcehoslavakian territory  March 15, 1939.  Lord Runciman in 1938 said - I saved peace for our times but he was mistaken.                                                                            When Putin occupied Crimea, we made nothing. Merkel made larger and larger business with him.  You really think, that Putin has enough? Peace for several months is useful for him, later he will continue, Moscow even mentioned attact Poland, Berlin and to come tp La Manche. People in Czechia and Slovakia know russian lies and 31 years of occupation of their contry very well. Read history is   important, if not, we will repeat our old mistakes.
Nice thats exactly what we need
The mitary industrial complex continues. The west is desperate and it shows
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