DIRS.INFO The most relevant business & tech news

☆ Goldman Sachs names 4 global defense stocks to watch as geopolitical risks rise
▼ + stars: | 2024-04-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Several countries have been beefing up their defense budgets in light of mounting geopolitical tensions, and Goldman Sachs has named several European stocks to play the theme right now. European defense stocks "have closely tracked super-cycles and are now "trading at peak multiples (20x 12-month forward price-to-earnings) vs history," which translates to a 45% premium to the benchmark Stoxx 600 index , the bank's analysts noted. Stocks Goldman's analysts said they "increasingly favour stocks exposed to long-term secular growth themes with superior visibility on growth." Other stocks with an exposure to the defense industry on Goldman's buy-rated list include aerospace names Rolls-Royce Holdings (also on its "conviction list") and Airbus . The bank has increased its 12-month price target on the stock by close to 60% to 606 euros, giving it nearly 13.4% upside potential.

Persons: Goldman Sachs, Victor Allard, Goldman, — CNBC's Michael Bloom Organizations: Stocks, Thales, Royce Holdings, Airbus, Rheinmetall

☆ NATO’s next challenge: How to reverse years of underfunding defense
▼ + stars: | 2024-04-03 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

For over a decade, allies have chronically underspent on defense while the West’s adversaries modernized and bolstered their own military capabilities. Defense spending stayed low across the West not just because of budget pressures, but also because everyone – including the US – was frightened to provoke Russia. However, the nature of NATO allies’ support for Ukraine – much of it direct military support – has exposed the vulnerability that years of underfunding has caused the alliance. Fabian Bimmer/Pool/ReutersThis means that the challenge in front of NATO allies now is not just how can they meet the demand for weapons coming from Ukraine, but how do they reverse years of underfunding their own defenses? Some allies don’t trust that others will be quite so generous with defense spending if the Russia-Ukraine war were to end.

Persons: Vladimir Putin’s, Putin, Volodymyr Zelensky, Murat Kula, ”, ” John Herbst, Antony Blinken, Ulf Kristersson, Andrew Caballero, Reynolds, underfunding, It’s, Herbst, NATO’s, –, Jens Stoltenberg, Olaf Scholz, Fabian Bimmer, Stoltenberg, ” Stoltenberg, Peter Ricketts, Douglas Lute, “ Organizations: CNN, NATO, Turkish, Anadolu Agency, Pentagon, “, Swedish, US State Department, Getty, Ukraine, Rheinmetall, Trump Locations: Soviet, Bosnia, Kosovo, Afghanistan, Iraq, Ukraine, United States, British, Vilnius, Russia, Kyiv, Europe, Germany, AFP, North Korea, Iran, Washington, Unterluess, Baltic, Brussels, Finland, Sweden, NATO

☆ Russia’s invasion of Ukraine sparked a defense boom. It’s likely to outlast the war
▼ + stars: | 2024-02-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

“While some Ukraine-related orders are starting to come through, restocking and the impact of ongoing defense spending increases will be evident further down the line,” he noted. ‘Era of insecurity’Continued US military support for Ukraine on the scale of the past two years is looking increasingly unlikely. But the pressure on Western governments to beef up their military coffers will outlast the Ukraine war, analysts say, and it started to rise even before Moscow sent its troops marching toward Kyiv two years ago. The febrile global environment has helped lift the shares of Renk, a newly-listed German maker of military tank gearboxes, including those donated by Berlin to Ukraine. And this appeal is unlikely to fade soon, given growing defense spending by governments.

Persons: Lockheed Martin, That’s, Jens Stoltenberg, ” Trevor Taylor, Russia wouldn’t, Micael Johansson, Johansson, “, Charles Woodburn, ”, House Republicans —, Donald Trump, Moscow, Oli Scarff, Trump, Joe Biden, Houthi, It’s, Susanne Wiegand, Myles Walton, Sweden’s, … Organizations: London CNN, Russia, Kyiv, BAE Systems, Thales, Rheinmetall, Lockheed, Northrop Grumman, Atlantic Treaty Organization, NATO, Royal United Services Institute, CNN, Saab, Ukraine, House Republicans, Republican, Kiel Institute, European Union, Getty, International Institute, Strategic, Renk, Reuters, New, Wolfe Research, Sweden’s Saab Locations: Ukraine, Moscow, United States, Canada, Russia, London, Europe, Swedish, Poland, Kyiv, Congress, German, European, Newcastle, Tyne, England, AFP, Beijing, Taiwan, China, Israel, Red, Berlin, Frankfurt, Gaza, New York

☆ 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

☆ Ukraine war orders starting to boost revenues for big US defense contractors
▼ + stars: | 2023-10-27 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

WASHINGTON, Oct 27 (Reuters) - The Russian invasion of Ukraine in 2022 is starting to boost defense contractors' revenues, as customers such as the U.S. government restock supplies shipped to Ukraine and countries around Europe arm themselves with an eye on Moscow's aggressions. New contracts to supply Ukraine directly - or backfill U.S. weapons sent to Ukraine - were signed late last year, and now revenue is flowing to the big defense contractors. "We've gone from 14,000 (artillery) rounds per month to 20,000 very quickly. The General Dynamics' Combat Systems unit, which makes armored vehicles, tanks and the artillery Ukraine uses, saw its revenue rise almost 25% versus the same period a year ago. Third-quarter sales for Northrop Grumman's (NOC.N) Defense Systems segment rose 6% on high demand for ammunition and rocket motors used in guided multiple-launch rocket systems (GMLRS), which play a crucial role in supporting Ukraine's defense efforts against Russian forces.

Persons: Lockheed Martin, We've, Jason Aiken, Northrop Grumman's, Sweden's, Joe Biden, Biden, Dynamics's Aiken, Mike Stone, Rod Nickel Organizations: Lockheed, General Dynamics, Patriot, Palestinian, Hamas, Wall, Dynamics ', Systems, Wall Street, Russian, Sweden's Saab, Rheinmetall, Thomson Locations: Ukraine, Europe, aggressions ., U.S, Israel, Arizona, Pennsylvania, Ohio, Texas, Washington

☆ Ukraine plans to ramp up monthly drone output by year-end - minister
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

An FPV (first person view) drone and additional equipment are seen at a training facility for military FPV drone pilots amid Russia's attack on Ukraine, at an undisclosed location in Zhytomyr region, Ukraine September 14, 2023. Kyiv has focused on increasing its output, but has relied heavily on foreign-made drone engines. Speaking at a NATO Industry Forum in Stockholm, Oleksandr Kamyshin, the minister who oversees Ukraine's defence industry, did not disclose detailed current drone production figures, but put the number in the thousands per month. Ukrainian officials hope cooperation with Western arms producers can also help revive the domestic arms industry and create an additional boost for the economy. Kamyshin said he had recently seen a "new wave of interest" in his country from Western defense industry companies.

Persons: Max Hunder, Oleksandr Kamyshin, Kamyshin, Yuliia, Tom Balmforth, Helen Popper Our Organizations: REUTERS, NATO Industry Forum, Western, Tuesday, Rheinmetall, Thomson Locations: Ukraine, Zhytomyr region, Russia, Kyiv, Stockholm

☆ Rheinmetall Receives Order for Artillery Shells for Ukraine
▼ + stars: | 2023-10-10 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

(Reuters) - Rheinmetall has received a further order for artillery ammunition destined for Ukraine under a framework agreement with the German military, the company said on Tuesday. Under the latest call-off, the company will deliver over a hundred thousand 155mm shells from the its new Spanish subsidiary, Rheinmetall Expal Munitions, as well as additional DM 121 high-explosive rounds. Tens of thousands of rounds are to be delivered in 2023, with the remainder due to ship in 2024, according to a statement from Rheinmetall, the world's biggest ammunition producer. (Reporting by Ozan Ergenay, Editing by Rachel More)

Persons: Ozan Ergenay, Rachel More Organizations: Reuters, Rheinmetall, Rheinmetall Expal Munitions Locations: Ukraine

That was until this week, when the company decided to pull its listing in the final hours of Wednesday, blaming market conditions. In the coming weeks, a string of European companies are slated to come to market. Among them is CVC Capital Partners, which is still planning a November listing depending on market conditions, a person with knowledge of the matter told Reuters. However, the fate of Renk highlights the challenges facing new issuers, exacerbated by a recent bout of volatility in equity and debt markets. On Thursday it was trading around its opening IPO price at 30 euros, still above its issue price, a positive sign.

Persons: Andreas Bernstorff, Germany's DAX, Susanne Wiegand, Schott, Perfumery, Douglas, Emma, Victoria Farr, Pablo Mayo Cerqueiro, Alexander Huebner, Anousha Sakoui Organizations: Capital Partners, Reuters, Equity Capital Markets, BNP, Renk, Rheinmetall, Schott Pharma, DKV, CVC Capital Partners, Paris bourse, Thomson Locations: FRANKFURT, LONDON, Frankfurt, U.S, Europe, East, Africa, European, Germany, York, Lincoln

In another dispute, Warsaw resisted a German offer to station Patriot missile air defence units in Poland before eventually agreeing to it. Among the sticking points, one German source said Poland was asking for too much money for the repair works. Another source, a German diplomat, said the talks failed partly because German companies were reluctant to share technical information. SOURING RELATIONSWhile ties between Poland and Germany have been frosty since PiS first came to power in 2015, Poles now see them worsening. Just 47% think relations are good, according to a German Polish barometer poll this year, down from 72% in 2020.

Persons: Olaf Scholz, Andrzej Duda, Thibault Camus, Donald Tusk, PiS, Mateusz Morawiecki, Tusk, Angela Merkel, General Ben Hodges, Krauss, Maffei, Sebastian Chwalek, Thomas Kleine, Berlin, mushroomed, Camp David, ” Hodges, Joe, Biden, Andrzej, Duda, Chancellor Scholz, Justyna Pawlak, Marek Strzelecki, Anna Koper, Anna Wlodarczak, Alan Charlish, Sarah Marsh, Sabine Siebold, Andreas Rinke, Matthias Williams, Mark Heinrich Our Organizations: Russia, goading, NATO, Justice, Nazi Wehrmacht, Patriot, Law, Justice Party, U.S, Army, Reuters, Rheinmetall, Polska, Patriots, Foreign, German Marshall Fund, Thomson Locations: Ukraine, Berlin, Germany, Russia Berlin, goading Warsaw, WARSAW, BERLIN, Polish, Nazi, EU, Slovakia, Poland, Warsaw, U.S, Europe, German, PiS, Japan, South Korea

☆ Poland Election Turns Germany Into Punchbag, Straining Western Alliance
▼ + stars: | 2023-10-05 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +7 min

Persons: Marek Strzelecki, Sabine Siebold, Anna Koper, Donald Tusk, PiS, Mateusz Morawiecki, Tusk, Angela Merkel, Olaf Scholz, General Ben Hodges, Krauss, Maffei, Sebastian Chwalek, Thomas Kleine, Berlin, mushroomed, Camp David, ” Hodges, Joe, Biden, Andrzej, Duda, Chancellor Scholz, Justyna Pawlak, Anna Wlodarczak, Alan Charlish, Sarah Marsh, Andreas Rinke, Matthias Williams, Mark Heinrich Organizations: Anna, Anna Koper WARSAW, NATO, Justice, Nazi Wehrmacht, Patriot, Law, Justice Party, U.S, Army, Reuters, Rheinmetall, Polska, Patriots, Foreign, German Marshall Fund Locations: BERLIN, Germany, Berlin, Ukraine, Polish, Nazi, EU, Slovakia, Poland, Warsaw, U.S, Europe, German, PiS, Japan, South Korea

☆ Ukraine lures Western weapons makers to transform defence industry
▼ + stars: | 2023-09-30 | by ( Olena Harmash | ) www.reuters.com time to read: +3 min

"Ukraine is in such a phase of the defence marathon when it is very important, critical to go forward without retreating. Results from the frontline are needed daily," Zelenskiy told executives representing more than 250 Western weapons producers. Executives from weapons producers from over 30 countries attended the forum. Ukrainian officials see the development of domestic defence production as a boost to the economy, which has shrunk by about a third last year due to the war. Several leading Western producers like Germany's weapon production giant Rheinmetall and Britain-based BAE Systems have already announced plans to team up with Ukrainian producers.

Persons: Fabian Bimmer, Volodymyr Zelenskiy, Zelenskiy, Olena Harmash, William Maclean Organizations: Puma, Rheinmetall, REUTERS, Rights, BAE Systems, Foreign Ministry, U.S, Thomson Locations: Unterluess, Germany, Russia, Ukraine, Kyiv, Ukrainian, Britain, Czech, Turkish

☆ 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

☆ Rheinmetall CEO: Conventional war needs conventional weapons
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRheinmetall CEO: Conventional war needs conventional weaponsArmin Papperger, CEO at Rheinmetall, discusses the company's defense spending across Europe.

Persons: Armin Papperger Organizations: Rheinmetall Locations: Europe

☆ Ukraine is firing up to 7,000 rounds a day, a fraction of the 60,000 shells Russia was firing earlier this year: report
▼ + stars: | 2023-09-18 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Ukraine lags far behind Russia in its use and production of artillery shells, according to CNN. Russia fired 60,000 shells a day earlier this year, while Ukraine now fires about 7,000, per CNN. The Ukrainian military wants to fire more than 10,000 rounds a day, according to CNN, which would still remain far below Russia's artillery efforts. AdvertisementAdvertisementAs of July, the US had committed to sending more than two million artillery rounds to Ukraine, while the EU has approved plans to send a quarter of a million rounds. However, it remains unclear how fast European weapon manufacturers can catch up with Russia's production rates.

Persons: Oleksandra Ustinova, Armin Papperfer, Papperfer, Bill LaPlante, Douglas Bush, Bush, Ukraine's Organizations: CNN, Artillery, Service, Rheinmetall, EU, New York Times, Kremlin Locations: Ukraine, Russia, Wall, Silicon, Ukrainian, Kyiv, Estonian, Europe, Scandinavian

Away from the front, Ukraine’s war has become a numbers game: who can acquire, make and resupply more tanks, bullets, and, most of all, artillery shells. All in all, Kyiv needs some 1.5 million artillery shells annually, according to the CEO of one of Europe’s largest arms manufacturers, Rheinmetall. By July, the US had supplied more than two million artillery rounds to Ukraine since the 2022 invasion, the Pentagon said. But in February 2023, Europe-wide production of artillery ammunition had a maximum capacity of 300,000 shells annually, Estonian defense officials estimated. The best-case scenario of an increase to making 2.1 million shells annually is still years away from being realized.

Persons: Oleksandra Ustinova, ”, Volodymyr Zelensky, Armin Papperger, Papperger, William LaPlante, Diego Herrera Carcedo, Nammo, LaPlante, Tuuli Duneton, Morten Brandtzæg, “, ” Brandtzæg, you’re, Jérôme, Creuillot, it’s, Jonathan Caverley, hasn’t, Ignacio Marin, Caverley, Josep Borrell Organizations: CNN, Artillery, Rheinmetall, Pentagon, European, NATO, Defense, Anadolu Agency, Getty, Estonian, US Naval War College, EU Locations: Ukraine, Russia, Estonian, United Kingdom, Europe, Brussels, “, Kyiv, ”, Norway, France

☆ 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 forges pact for Leopard 2 successor in snub to Paris, Handelsblatt reports
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 6 (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The German defence ministry did not immediately respond to a request for comment. The delays to the proposed Franco-German project have strained ties already tested by differences over energy topics and the question to what extent Europe should become independent from the U.S. in its security policy. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco, Thomson Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Germany Forges Pact for Leopard 2 Successor in Snub to Paris - Handelsblatt
▼ + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

BERLIN (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The initiative is to take place under the leadership of Krauss-Maffei Wegmann (KMW) and Rheinmetall, the German arms makers building the Leopard 2, Handelsblatt reported, citing unnamed industry and political sources. The German defence ministry did not immediately respond to a request for comment. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: BERLIN, Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ 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

☆ Rheinmetall to deliver Luna drone system to Ukraine by year end
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Aug 13 (Reuters) - Germany's Rheinmetall (RHMG.DE) will deliver a Luna New Generation drone system to Ukraine by the year end, Bild am Sonntag reported on Sunday, citing company sources. Ukraine is desperate to boost its weapons arsenal, from drones and munitions to tanks, as it battles to repel Russia's invasion. The "Drones Package" consists of a ground control station with several drones, a launch catapult and military trucks, Bild said, adding the drone system could be used as a reconnaissance system, provide an LTE network and intercept or jam communications. The company was not immediately available for comment. Reporting by Riham Alkousaa, editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Sonntag, Bild, Riham Alkousaa, David Evans Organizations: Germany's Rheinmetall, Thomson Locations: Ukraine

☆ An arms dealer says he sold 49 secondhand Leopard 1 tanks to an undisclosed EU country to send to Ukraine
▼ + stars: | 2023-08-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

An arms dealer said he sold 49 Leopard 1 tanks to an unnamed EU country to send to Ukraine. German newspaper Handelsblatt, meanwhile, reported that the Leopard 1 tanks were bought by German arms maker Rheinmetall for use in Ukraine, and that the deal involved 50 tanks. Ukraine began receiving deliveries of Leopard tanks from its allies in February 2023, after months of asking for advanced armored vehicles. Older tanks, once discarded as obsolete, are now in high demand, The Guardian reported, given battlefield needs. Experts say that the West's hesitancy to send tanks to Ukraine gave Russia the time to build up its defenses.

Persons: Freddy Versluys, Versluys, Handelsblatt, Volodymyr Zelenskyy Organizations: Handelsblatt, Rheinmetall, Service, OIP, Systems, Guardian, Leopard, Reuters, Ukraine, Russian, Kiel Institute Locations: Ukraine, Wall, Silicon, Belgium, Germany, Russia

The German-made Leopards were at the centre of a public spat earlier this year after Belgian Defence Minister Ludivine Dedonder said the government had explored buying back tanks to send to Ukraine but had been quoted unreasonable prices. Freddy Versluys, CEO of defence company OIP Land Systems, bought the tanks from the Belgian government more than five years ago. The German Defence Ministry had no immediate comment. Several of Kyiv's Western allies agreed earlier this year to send modern Leopard 2 tanks to Ukraine and also to send older Leopard 1 models. A spokesperson for the Belgian defence ministry declined to comment on the sale of the tanks.

Persons: Freddy Versluys, Read, Ludivine Dedonder, Germany's, Versluys, Krauss, Andrew Gray, Christoph Steitz, Sabine Siebold, Jonathan Oatis, Alex Richardson Organizations: OIP, Systems, Belgian, Leopards, Belgian Defence, Reuters, Rheinmetall, LinkedIn, NATO, German Defence Ministry, Maffei, Thomson Locations: Belgian, Ukraine, Wallonia, Germany, Tournais, Belgium, BRUSSELS, Vilnius

☆ Australia awards South Korea's Hanwha $4.7 bln defence contract
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 27 (Reuters) - South Korea's biggest defence company Hanwha Aerospace (012450.KS) on Thursday beat Germany's Rheinmetall (RHMG.DE) to win an Australian contract worth up to A$7 billion ($4.74 billion) for building 129 infantry fighting vehicles. The deal, which Defence Industry Minister Pat Conroy described as one of the largest projects in the history of the Australian army, will have a value of A$5 billion to A$7 billion. Australia has been upgrading its defence capabilities, citing the changing strategic environment in the Pacific region, where China is looking to increase its influence. Hanwha said the deal would further boost ties between Australia and South Korea and had "significant implications" for defence and economic cooperation. ($1 = 1.4780 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Alasdair Pal and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Germany's, Pat Conroy, Conroy, Hanwha, Hanwha's, Anthony Albanese, Renju Jose, Alasdair Pal, Jamie Freed Organizations: SYDNEY, Hanwha Aerospace, Germany's Rheinmetall, Defence Industry, Rheinmetall, Thomson Locations: Australia, Victoria, Pacific, China, South Korea, Germany, Sydney

☆ After Ukraine's success with US-made HIMARS, European militaries are looking for their own rocket artillery
▼ + stars: | 2023-07-22 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

Other European countries are pursuing their own rocket artillery, buying HIMARS or building new systems. Sovfoto/Universal Images Group via Getty ImagesMultiple launch rocket systems have been around since World War II, when the legendary Soviet Katyusha battered Nazi forces. But Russia adapted and moved its command and supply centers out of HIMARS range, though at the price of compromising some efficiency. Rocket artillery can't replace howitzers, which offer some advantages, such as the ability to fire barrages continuously for hours. Still, rocket artillery is certain to join howitzers as the backbone of Western artillery.

Persons: Lockheed Martin, HIMARS, PATRIK STOLLARZ, Biden, ATACMS, salvoes, Jakub Porzycki Organizations: Russia, Service, Rheinmetall, Defense News, Lockheed, Getty, US State Department, Army Tactical Missile Systems, Ukraine, Storm, Nazi, Anadolu Agency, Russian, GPS Locations: Wall, Silicon, Ukraine, Germany, Munster, AFP, Poland, France, Soviet, Warsaw, Russia

Search resuls for: "Rheinmetall"

25 mentions found