DIRS.INFO The most relevant business & tech news

☆ Zelenskiy says Ukraine, US will hold military industry conference next month
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Ukraine's President Volodymyr Zelenskiy addresses a meeting of the Ukraine Defense Contact Group ahead of a two-day NATO Defense Ministers Council at the alliance headquarters in Brussels, Belgium, October 11, 2023. Olivier Matthys/Pool via REUTERS/File Photo Acquire Licensing RightsNov 17 (Reuters) - Ukraine and the United States will hold a military industry conference in December, Ukrainian President Volodymyr Zelenskiy said on Friday. "During my visit to Washington, President Biden and I agreed on specific steps we can take together. In October, Ukraine set up a joint defence venture with German arms manufacturer Rheinmetall AG (RHMG.DE) to service and repair Western weapons. In September, it hosted an international defence industry forum with more than 250 Western weapons producers.

Persons: Volodymyr Zelenskiy, Olivier Matthys, Kiyv, Zelenskiy, Biden, Yuliia Dysa, Louise Heavens, Heavens Organizations: Ukraine Defense Contact, NATO Defense, Ukrainian, Rheinmetall AG, Thomson Locations: Ukraine, Brussels, Belgium, United States, Kyiv, Washington

☆ Swiss to Sell Back Leopard II Tanks to Help Restock After Ukraine Donations
▼ + stars: | 2023-09-27 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

ZURICH (Reuters) - Germany has welcomed a decision by neutral Switzerland to open the way to sell back some of its German-made Leopard II tanks to help rebuild stocks depleted by aid to Ukraine. Germany had asked Switzerland in February to sell back some of the 96 Leopard II tanks it has in storage to manufacturer Rheinmetall AG. "We are very happy and grateful for this decision," Michel Fluegger, Germany's ambassador to Switzerland told Swiss TV. He was speaking after the Swiss parliament on Tuesday approved the decommissioning of 25 Leopard II tanks, paving the way for them to be resold to Germany. Buying Swiss weapons could become difficult unless Bern adjusts its law on war materials, German ambassador Fluegger said.

Persons: Michel Fluegger, Fluegger, Viola Amherd, John Revill, Philippa Fletcher Organizations: Leopard, Rheinmetall AG, NATO, Swiss, Leopard IIs, SRF Locations: ZURICH, Germany, Switzerland, Ukraine, Berlin, Bern, Kyiv, Swiss, Denmark, Spain, Europe

☆ Swiss to sell back Leopard II tanks to help restock after Ukraine donations
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Recruits of the Swiss army Tank School 21 perform an attack exercise with the Leopard 2 tank in Bure, Switzerland May 5, 2023. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Sept 27 (Reuters) - Germany has welcomed a decision by neutral Switzerland to open the way to sell back some of its German-made Leopard II tanks to help rebuild stocks depleted by aid to Ukraine. Germany had asked Switzerland in February to sell back some of the 96 Leopard II tanks it has in storage to manufacturer Rheinmetall AG (RHMG.DE). He was speaking after the Swiss parliament on Tuesday approved the decommissioning of 25 Leopard II tanks, paving the way for them to be resold to Germany. Buying Swiss weapons could become difficult unless Bern adjusts its law on war materials, German ambassador Fluegger said.

Persons: Denis Balibouse, Michel Fluegger, Fluegger, Viola Amherd, John Revill, Philippa Fletcher Organizations: Swiss army Tank, REUTERS, Rights, Leopard, Rheinmetall AG, NATO, Swiss, Leopard IIs, SRF, Thomson Locations: Bure, Switzerland, Germany, Ukraine, Berlin, Bern, Kyiv, Swiss, Denmark, Spain, Europe

☆ German-made anti-aircraft guns from the 1960s are one of Ukraine's best weapons against Russia's exploding drones, and this video shows one blasting them out of the sky
▼ + stars: | 2023-09-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine has relied on its decades-old Gepard cannons to defend against Russian drones and missiles. A new video published Thursday by the Ukrainian military shows the anti-aircraft guns in action. Gepards, which were first developed in the 1960s, have proven to be very effective in downing these systems, as well as other low-altitude Russian drones and cruise missiles. Ukrainian servicemen operate a Gepard self-propelled anti-aircraft gun during their combat shift, amid Russia's attack on Ukraine, in Kyiv region, Ukraine June 30, 2023. REUTERS/Valentyn OgirenkoThe firepower boost for Ukraine's Gepards comes at a crucial moment.

Persons: Kyiv's Gepards, Vladimir Putin's, Jacob Bradford, Gepards, Switzerland —, Ukraine's Gepards, John Kirby, Biden Organizations: Service, Ukrainian Air Force, Factory, US Army, Rheinmetall AG, REUTERS, Ukraine's, National Security, NATO, Pentagon, High Mobility Artillery Rocket Systems Locations: Ukraine, Ukrainian, Wall, Silicon, Odesa, Moscow, Kyiv, Poland, Germany, Switzerland, German, Kyiv region, Russia

☆ Germany has finally figured out how to build more ammo for the 1960s-era cannon Ukraine is using to blast Russian drones
▼ + stars: | 2023-09-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine has been using Cold War-era Gepard cannons to take down Russian drones and missiles. A German arms manufacturer plans to send 300,000 35mm rounds to Kyiv for its Gepards. Ukraine has relied heavily on its arsenal of Gepards provided by Germany to blast low-flying Russian drones and missiles out of the sky. It took existing 35mm ammunition from infantry fighting vehicles and modified it for the Gepard, which needed its fire control unit to recognize the new munitions. A Gepard gun successfully fired the ammunition in May, and Rheinmetall said on Sunday that "a first lot" of 35mm ammunition is now on its way to Ukraine.

Persons: Jacob Bradford One, SERGEI SUPINSKY Organizations: Service, NATO, Factory, Rheinmetall AG, Ukraine, US Army, Rheinmetall, Getty Locations: Ukraine, Wall, Silicon, Germany, Kyiv, Switzerland, German, Poland, Berlin, AFP, Moscow, Russia, Ukrainian

SummarySummary Companies STOXX 600 off 0.1%Defence firms fall after failed Russian mutinyHealthcare sector drags STOXX 600German business morale weakens againJune 26 (Reuters) - European shares inched lower on Monday, led by healthcare, while defence stocks fell after an aborted weekend mutiny in Russia. The pan-European STOXX 600 index (.STOXX) slipped 0.1% as of 1600 GMT, extending losses for its sixth straight session. Shares of major European defence firms Leonardo SpA (LDOF.MI), Saab AB (SAABb.ST) and Rheinmetall AG (RHMG.DE) each dropped more than 4%, weighing on the European aerospace and defence sub-index (.SXPARO) which fell 0.9%. "It's too early to price something into the market, that's why the really limited move on defence stocks." The healthcare index (.SXDP) fell 1.1% and was a big drag on the STOXX 600 index, which has come under pressure on concerns about an economic slowdown from a potentially longer-than-expected global interest rate hiking cycle.

Persons: Vladimir Putin, Leonardo, Shanti Kelemen, It's, Germany's DAX, Aston Martin, Amruta Khandekar, Varun H, Dhanya Ann Thoppil, Richard Chang Organizations: Wagner Group, Leonardo SpA, Saab AB, Rheinmetall AG, G Wealth, Energy, Siemens Energy, Lucid, Cineworld, SBB, Thomson Locations: Russia, Ukraine, Europe's, British, Swedish

☆ German makers of Leopard 2 tank settle legal dispute
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

DUESSELDORF, May 2 (Reuters) - German arms makers Rheinmetall (RHMG.DE) and Krauss-Maffei Wegmann have settled a legal dispute over the intellectual property rights to the Leopard 2, one of the world's most advanced battle tanks, a court said on Tuesday. A boom in defence orders due to the war in Ukraine, and in particular demand for Leopard tanks from Kyiv to help in the fight against Russian forces, has boosted both companies. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 and Munich-based KMW makes its chassis. Rheinmetall said both parties had sought to settle the dispute as quickly as possible with the aim of returning to day-to-day business. Earlier this year, Germany bowed to pressure from allies and agreed to send Leopard tanks to Ukraine.

Bowing to pressure from allies, Germany's government this year agreed to send Leopard tanks to Ukraine, one of the big ticket items sought by Kyiv as it gears up to mount a counteroffensive against Russian forces. Duesseldorf-based Rheinmetall makes the cannon of the Leopard 2 while the Munich-based KMW makes its chassis. A district court in Munich in a statement on Tuesday said KMW was seeking legal protection to prevent Rheinmetall from making statements it saw as "untrue, misleading factual assertions that violate its rights". Higher defence spending pushed Rheinmetall to record earnings last year and saw the company enter Germany's DAX blue-chip index. ($1 = 0.9106 euros)Writing by Matthias Williams Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ War in Ukraine Has Supercharged This German Weapons Maker
▼ + stars: | 2023-03-18 | by ( Alistair Macdonald | Bojan Pancevski | ) www.wsj.com time to read: 1 min

Rheinmetall says its Panther tank, on display near Paris last year, brings greater firepower and precision than current tanks. The war in Ukraine has made munitions maker Rheinmetall AG a key player in the global arms trade, catapulting the once low-profile German manufacturer into one of Europe’s most important weapons suppliers. Since Russia’s invasion last year, Rheinmetall’s shares have risen 150%, and the company has reported record earnings and orders, with the conflict’s artillery-heavy nature pointing to strong future demand for its shells. The company also has begun talks with German and Ukrainian officials about building a tank factory in Ukraine.

In 2022, Rheinmetall made some 60,000 to 70,000 rounds each of tank and artillery shells, according to Papperger, who said production could be boosted immediately. A few days before the meeting with the new defence minister, Papperger pushed for an increase of Germany's defence budget. "The 51 billion euros in the defence budget will not suffice to purchase everything that is needed. Even before Russia's invasion of Ukraine, Germany was 20 billion euros short of reaching NATO's target for ammunitions stockpiling, according to a defence source. To plug the munitions gap alone, Papperger estimates the Bundeswehr (German armed forces) would need to invest three to four billion euros per year.

☆ Ukraine War Spurs Arms Makers to Boost Production
▼ + stars: | 2022-11-24 | by ( Benjamin Katz | Doug Cameron | ) www.wsj.com time to read: 1 min

Rheinmetall, one of Europe’s biggest weapons and munitions makers, displayed its wares at an exhibition in Paris earlier this year. The world’s biggest arms makers are scaling up production of rocket launchers, tanks and ammunition as the industry shifts to meet what executives expect to be sustained demand triggered by the war in Ukraine. The ramp-up is playing out in large measure in Europe, where a handful of long-established arms makers have grown accustomed to more modest, peacetime demand for their wares and are now trying to increase capacity to meet an expected crush of orders. Shares of many of these lesser-known international arms players, including Germany’s Rheinmetall AG and Sweden’s Saab AB, have soared on hopes of big orders.

☆ Germany’s Rheinmetall Buys Spanish Ammo Maker for $1.24 Billion
▼ + stars: | 2022-11-14 | by ( Benjamin Katz | ) www.wsj.com time to read: 1 min

One of Europe’s biggest arms makers said it would buy a Spanish competitor in a bid to quickly expand production of artillery and mortar ammunition to meet what it said was “massive demand” amid the war in Ukraine. Germany’s Rheinmetall AG said Monday it agreed to buy Spain’s Expal Systems SA for 1.2 billion euros, equivalent to about $1.24 billion. The company is aiming to close the deal by next summer, pending competition and regulatory approval. Madrid-based Expal is the defense unit of MaxamCorp Holding SL, which traces its origins back to dynamite inventor Alfred Nobel. It has operations across Spain and in Texarkana, Texas.

☆ Rheinmetall agrees 1.2 billion euro deal to acquire Spanish explosives maker Expal
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 13 (Reuters) - German military equipment manufacturer Rheinmetall (RHMG.DE) said on Sunday it has agreed a deal to acquire Spanish explosives and ammunition maker Expal Systems for an enterprise value of 1.2 billion euros ($1.24 billion). Expal is a subsidiary of Spanish company Maxam, owned by private equity firm Rhone Capital. With the acquisition, Rheinmetall said it aims to bolster its core weapon, ammunition and propellants business. Rheinmetall said Expal Systems expects sales in 2023 of around 400 million euros. Expal has a workforce of more than 1,000 employees and 11 production sites and is present in over 60 countries.

Search resuls for: "Rheinmetall AG"

13 mentions found