Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Ukraine, German manufacturer cooperate on air defence systems

Published 02/20/2024, 09:16 AM
Updated 02/20/2024, 09:23 AM
© Reuters. Ukrainian UkrOboronProm logo is pictured at their stand inside a hall of the 30th International Defence Industry Exhibition in Kielce, Poland September 5, 2022. REUTERS/Kacper Pempel/File Photo

(Reuters) - Ukraine's state arms producer has entered into cooperation with Germany's MBDA Deutschland, part of a missiles joint venture owned by Airbus, BAE Systems (LON:BAES) and Leonardo.

Ukroboronprom, the producer, said the companies signed a document that envisages a joint study of opportunities for cooperation in air defence systems.

A spokesperson for MBDA Deutschland said that countering unmanned aircraft systems (UAS) was in focus.

Kyiv has been accelerating its efforts to boost domestic and joint arms production amid partners' depleting warehouses, failed delivery schedules, and political wrangling on allocating further military support as the war with Russia enters its third year.

"Potential areas of partnership include research, development, production, and investment," Ukroboronprom said.

Ukraine desperately needs advanced air defence systems as Russia continues to carry out massive combined attacks on Ukrainian cities, using missiles and drones of different types.

Kyiv's air defence capabilities totally depend on allied aid at the moment.

Herman Smetanin, Ukroboronprom's CEO, said the agreement with MBDA Deutschland laid "a solid foundation" for Ukraine's defence industry development and helped its integration into the NATO defence industry.

"This agreement marks a milestone between the defence industries in our countries," Thomas Gottschild, MBDA Deutschland managing director, was quoted as saying by Ukroboronprom.

Ukraine has a joint venture with the German Rheinmetall to service and repair Western weapons sent to help Kyiv fend off Russia. The company also plans to open an ammunition factory in the country.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

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.