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☆ Influencer app Node's $13 million sale shows how central tech and AI have become to talent management
▼ + stars: | 2024-09-17 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewThe talent-management agency Dulcedo Group acquired the influencer-marketing app Node in a July deal that valued the company at around $13 million, Node's cofounders told Business Insider. The deal shows how important tech products, including artificial-intelligence tools, have become in the talent and marketing industries. Founded in 2008 as an agency for more traditional media talent, Montreal-based Dulcedo Group has recently been on a buying spree, announcing in November it acquired creator talent agency Influence+All and PR firm Sundae Creative. Related storiesThe cofounders ultimately connected with Dulcedo Group, which put in an offer to acquire Node. Dulcedo Group was drawn to the company's technological expertise and roster of micro influencers, Faraji told BI.

Persons: —, Node's cofounders, Cofounders Armin Faraji, Mackenzie Dérival, Faraji, Stagwell, Dérival, they're, It's Organizations: Service, Dulcedo Group, Business, Publicis, Stagwell, Sundae Locations: Montreal, Dulcedo

☆ Russia plotted to assassinate the CEO of a German arms firm making weapons for Ukraine as the Kremlin ramps up its covert campaign against the West
▼ + stars: | 2024-07-12 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Russia plotted to assassinate an executive of a German armaments firm, CNN reported. The reported target was Rheinmetall CEO Armin Papperger. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS intelligence helped thwart a Russian plot to kill the CEO of a German arms firm that has made munitions and military equipment for Ukraine, according to reports.

Persons: Armin Papperger, Dmitry Peskov, — Organizations: CNN, Rheinmetall, Service, Russian, Business Locations: Russia, Ukraine

☆ U.S., Germany foil alleged Russian plot to assassinate CEO of German arms firm sending weapons to Ukraine
▼ + stars: | 2024-07-12 | by ( Dan De Luce | ) www.cnbc.com time to read: +5 min

U.S. intelligence agencies discovered the plan to go after Papperger earlier this year and informed the German government, the sources said. We have also been clear that Russia's actions will not deter Allies from continuing to support Ukraine." The Office of the Director of National Intelligence, the CIA and the German embassy in Washington all declined to comment. The Intelligence Committee is closely following these threats, which only strengthen our resolve to support Ukraine." And in February, the company signed a memorandum with Ukraine to set up a joint production plant for artillery ammunition.

Persons: Rheinmetall AG Armin Papperger, Ronny HARTMANN, RONNY HARTMANN, Armin Papperger, Papperger, Adrienne Watson, Biden, Watson, Oliver Hoffman, Putin, Jens Stoltenberg, Stoltenberg, Vladimir Putin, Rheinmetall's Papperger Organizations: Rheinmetall AG, Rheinmetall, AFP, Getty Images, U.S, Lynx, CNN, White House National Security, NATO Allies, National Intelligence, CIA, Democratic, House Intelligence, NATO, Intelligence, NBC News, Royal United Services Institute Locations: Unterluess, Germany, Russia, Ukraine, Europe, Moscow, Russian, United States, Washington, cyberattacks, Kyiv, United Kingdom, London

For more than six months, Russia has been carrying out a sabotage campaign across Europe, largely by proxy. “We’re seeing sabotage, we’re seeing assassination plots, we’re seeing arson. Russia’s sabotage campaign has, at times, smacked of a shotgun approach carried out by amateurs. In London in March, several men were charged with working with Russian intelligence services to set fire to a Ukrainian-linked warehouse. And French authorities last month detained a Russian-Ukrainian man who was allegedly building bombs as part of a sabotage campaign orchestrated by Moscow.

Persons: Armin Papperger, Olaf Scholz, Boris Pistorius, Fabian Bimmer, “, ”, Adrienne Watson, “ Russia’s, Oliver Hoffman, ” Hoffman, Donald Tusk, Papperger, Dariusz Borowicz, Agencja Wyborcza.pl, Reuters “, ” CNN’s Zachary Cohen Organizations: CNN, Kyiv, Rheinmetall, NATO, National Security, NATO Allies, Embassy, intel, US, Reuters, Ukraine Locations: Ukraine, Europe, Kyiv, Germany, Berlin, Russia, West, Moscow, Papperger, Unterluess, United States, Washington, Russian, Polish, Lithuania, Poland, Ukrainian, London, Warsaw

American intelligence agencies uncovered a Russian plot to kill the chief executive of a German weapons manufacturer, according to multiple Western officials, as Moscow steps up a campaign to undermine support for Ukraine’s war effort. The United States warned Germany about the plot, and German officials increased protection for Armin Papperger, who leads Rheinmetall, which makes artillery shells and tanks that Ukraine has used in its war against Russia. The assassination plot is a significant escalation, officials said, representing a more concerted covert effort to deter Western companies from producing supplies for Ukraine. A senior Western intelligence official said that the threats were flagged this past spring. The officials spoke on the condition of anonymity to discuss the Russian operation.

Persons: Armin Papperger, Papperger Organizations: United, Rheinmetall, Russia, NATO Locations: Moscow, United States, Germany, Ukraine, Western

☆ Fun or frightening? A brief history of Olympic mascot design
▼ + stars: | 2024-07-08 | by ( Leah Dolan | ) edition.cnn.com time to read: +7 min

Stephane De Sakutin/AFP/Getty Images Merchandise featuring Beijing mascot Bing Dwen Dwen, the 2022 Winter Olympics mascot, has been extremely popular. MARTIN BERNETTI/AFP/AFP via Getty Images Rio 2016 Olympic mascot Vinicius was selected four years before the Games kicked off. Rudi Blaha/AP Syd the platypus, Millie the echidna and Olly the kookaburra, helped represent the Sydney 2000 Olympic Games. Amicar de Leon/AP The Albertville Olympic Games in 1992 was cheered on by a star-shaped gnome-looking character. International Olympic Committee In pictures: Olympic Mascot History Prev NextTo find a worthy representative, each host country will typically organize a submission call-out or contest.

Persons: snowmen, Aline Lafargue, “, Lafargue, Stephane De Sakutin, Bing Dwen Dwen, Lintao Zhang, Maja Hitij, MARTIN BERNETTI, Vinicius, Alex Ferro, Andrej Isakovic, Mo Farah, Adrian Dennis, Jeff Vinnick, Amy Sancetta, Michael Sohn, Rudi Blaha, Syd, Olly, Claro, Eric Draper, Izzy Whatizit, Ross Kinnaird, Michel Euler, Amicar de Leon, Nicolas Le Corre, David Cannon, Sam, Eagle, Tony Duffy, Howdy, Dieter Endlicher, Misha, Armin Weigel, AP Shuss, Iris, ”, Millie Organizations: CNN, Olympic Games, International Olympic Committee, Grenoble Winter, Getty, Tokyo, Games, Reuters, Sochi, Getty Images Beijing, Winter Games, Sydney, Lillehammer Games, Albertville Olympic, Disney, International Olympic, Moscow's, AP, Dachshund, Olympics, Olympic, International, Sochi Winter Games, Angeles Summer, London Games, Soyuz Locations: France, Paris, AFP, Beijing, Vancouver, Canada, China, Turin, Italy, Athens, Salt Lake, Snowbasin , Utah, Claro Cortes, Japan, EMPICS, Barcelona, Barcelona's Port, South Korea, Sarajevo's Yugoslavia, Calgary , Alberta, Lake Placid, Munich, Innsbruck, Kitzbuhel, Austria, Algonquin, Russia, Sydney, Australia

☆ France is more divided than ever after run-off vote, professor says
▼ + stars: | 2024-07-08 | 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 EmailFrance is more divided than ever after run-off vote, professor saysArmin Steinbach, Jean Monnet professor of EU Law and economics at HEC Paris, comments on the outcome of the second round of the French election.

Persons: Armin Steinbach, Jean Monnet Organizations: EU Law, HEC Paris

☆ French President Macron’s snap election gamble 'did not pay off,' professor says
▼ + stars: | 2024-07-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Macron had called for a new legislative nationwide vote in France after the country's far-right party made significant gains in the European Union election last month. The gamble that French President Emmanuel Macron took when he called a snap election has not paid off, according to Armin Steinbach, Jean Monnet professor of EU Law and economics at HEC Paris. Macron's centrist Ensemble bloc is set to make up the second-largest group in parliament, followed by the RN and its allies. Just because the far-right did not perform as they had hoped in this election does not mean they should be discounted for the presidential election in 2027, Steinbach added. "For today it's a loss for them, … but it doesn't tell us anything about the 2027 presidential election.

Persons: Macron, Steinbach, CNBC's Charlotte Reed, Emmanuel Macron, Armin Steinbach, Jean Monnet, Tina Fordham, CNBC's, Fordham, HEC's Steinbach Organizations: Popular Front, Interior Ministry, Union, EU Law, HEC Paris, Fordham Global Insight, European Union Locations: Paris, France, Steinbach

☆ 5 killed after floods engulf southern Germany
▼ + stars: | 2024-06-04 | by ( Billy Stockwell | Inke Kappeler | ) edition.cnn.com time to read: +4 min

CNN —Five people have died and thousands were evacuated in southern Germany after heavy rainfall hit the region and caused vast floods, prompting warnings from senior officials that the climate crisis was set to worsen extreme weather in the country. After heavy rainfall, the German Armed Forces has sent 800 personnel to the region to help with rescue efforts. Record floods occur every few years … record rainfall every few years,” Habeck, of the Greens Party, told broadcaster n-tv. Deadly floods hit Western Europe in 2021, with at least 220 people killed between July 12 and 15, mostly in Germany. Other areas of Europe have also been affected by heavy rainfall in recent days.

Persons: Juergen Weiss, Thomas Niedermueller, Armin Weigel, Olaf Scholz, ” Scholz, Robert Habeck, ” Habeck, HINA, CNN’s Barbie Nadeau, Louis Mian Organizations: CNN, Bavarian firefighters, Authorities, German Armed Forces, Bavarian, Environmental Office, Economy, Greens Party, Firefighters, Sunday, RTV SLO Locations: Germany, Bavaria, Baden, Wuerttemberg, Regensburg, Rudersberg, Bavarian, Passau, Europe, Udine, Northeastern Italy, Slovenia, Gornja Radgona, Austrian, Zagorje county

☆ Rescue worker dies, several thousand evacuated in southern Germany floods
▼ + stars: | 2024-06-02 | by ( ) edition.cnn.com time to read: +1 min

CNN —A firefighter died while trying to rescue trapped residents and several thousand people were forced to leave their homes as heavy rain caused flooding in southern Germany. The 42-year-old man who died was in a rescue boat carrying four firefighters that capsized late on Saturday. Municipalities had days to prepare for the flooding but around 3,000 people had to be evacuated in southern Germany as the water cut off some areas, authorities said. Record floods occur every few years … record rainfall every few years,” Habeck, of the Greens Party, told broadcaster n-tv. Parts of Europe were hit by major flooding in 2021 that killed nearly 200, with Germany bearing the brunt.

Persons: “, ”, Olaf Scholz, X, Scholz, Nancy Faeser, Armin Weigel, Robert Habeck, ” Habeck Organizations: CNN, Ilm, AP Economy, Greens Party Locations: Germany, Bavarian, Pfaffenbach, Munich, Municipalities, Bavaria, Europe

☆ Ukraine is getting a prototype artillery shell that can strike 3 times as far as regular rounds: report
▼ + stars: | 2024-05-08 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Germany plans to send Ukraine a prototype artillery shell that can travel 62 miles, Handelsblatt reported. AdvertisementGermany is gearing up to send Ukraine a prototype artillery shell that can travel up to 62 miles, German newspaper Handelsblatt reported. That would more than triple the reach of the conventional 155 mm artillery rounds Ukraine is heavily reliant on, depending on what system is used to fire it. It's not clear what the prototype munition actually is. Earlier this year, Germany announced a $5.3 million military aid package for Ukraine, including 10,000 artillery rounds from its own stocks, Politico reported.

Persons: They'd, —, It's, Handelsblatt, Russia's, Armin Papperger, Germany's, Olaf Scholz, Scholz Organizations: Service, Associated Press, Rheinmetall, Defense, Politico Locations: Germany, Ukraine, Berlin

☆ Putin references Russian hitman in German jail as he suggests ‘agreement can be reached’ on detained US reporter Gershkovich
▼ + stars: | 2024-02-09 | by ( Nathan Hodge | Helen Regan | ) edition.cnn.com time to read: +11 min

CNN —Russian President Vladimir Putin has suggested “an agreement can be reached” with the United States to release detained American journalist Evan Gershkovich, as he brought up the conviction of a “patriotic” Russian hitman in Germany. Gershkovich, a Wall Street Journal reporter, was arrested last March while on a reporting trip in the country. When Putin said Gershkovich was working with US special services, Carlson did push the Russian president, saying: “This guy is obviously not a spy, he’s a kid. In fact, journalists have repeatedly been requesting interviews with Putin, but the Russian President had declined to grant access. The Russian President suggested that the path to ending the war in Ukraine was through direct negotiations between Washington and Moscow.

Persons: Vladimir Putin, Evan Gershkovich, Tucker Carlson, Putin’s, Carlson, Putin, “, ” Putin, ”, Natalia Kolesnikova, Gershkovich’s, “ He’s, Evan, ” Danielle Gershkovich, Biden, Gershkovich, Paul Whelan, He’s, Vadim Krasikov, Krasikov, Viktor Bout, Brittney Griner, Whelan, “ Evan, ” “ Evan, “ We’re, Viktor Orbán, Javier Milei, Volodymyr Zelensky, “ Putin, railroaded Tucker Carlson, Jill Dougherty, Dougherty, Armin Wolf, Joe Biden, Dmitry Medvedev Organizations: CNN, Fox News, Street Journal, Federal Security Service, Novosti, US State Department, Getty, White, Russian, Street, Big Tech, International Criminal Court, Rights Watch, Russia’s, Kremlin, NATO, Republicans Locations: United States, American, Russian, Germany, Ukraine, Moscow, Europe, Russia, US, AFP, Berlin, Chechen, Ukrainian, Mariupol, Austrian, Washington, Poland, Belarus, Israel

☆ Why Trump Is the Republican Establishment - The New York Times
▼ + stars: | 2024-01-30 | by ( Lakshya Jain | Armin Thomas | ) www.nytimes.com time to read: +1 min

A year later, as Mr. DeSantis’s presidential campaign stalled, at least a handful of G.O.P. megadonors found new hope in Nikki Haley, with the Koch network announcing millions of dollars in support of her presidential campaign. It would be fair to say that the project has fallen flat: Mr. DeSantis suspended his presidential campaign on Jan. 21, and Ms. Haley’s hopes have now dwindled to a thin thread after her loss in New Hampshire. By Donald Trump and his allies, this primary will be portrayed as a victory over a Republican establishment with which he had been at odds for years. But although Mr. Trump has routinely positioned himself as a political outsider, it is clear — now more than ever — that he has become the Republican establishment, and the party’s fate increasingly seems inextricably tied to his.

Persons: Ron DeSantis, ”, Donald Trump, megadonors, Nikki Haley, Koch, DeSantis, Haley’s, Trump Organizations: New York Post, Republican Locations: Florida, New Hampshire

☆ Germany mulls possible aid suspension to Palestinians after Hamas attack
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +2 min

Israel supporters protest, following Hamas' biggest attack on Israel in years, next to the Brandenburg Gate, in Berlin, Germany, October 8, 2023. "We will now review our entire engagement for the Palestinian territories." But pushback came from the opposition Left party and the Greens, junior partner in the federal coalition. Hamas, and not all Palestinians, were responsible for the attack, said Gregor Gysi, a prominent member of the Left party. "These funds above all gave suffering people in the Palestinian territories access to food provisions and health care."

Persons: Israel, Liesa, Svenja Schulze, Armin Laschet, Mahmoud Abbas, pushback, Gregor Gysi, Luise Amtsberg, Markus Wacket, Sarah Marsh, Ros Russell, Bernadette Baum Organizations: REUTERS, Rights, Palestinian, Hamas, . Development, Social Democrats, West Bank, Left, Greens, Palestinian Authority, United Nations, Thomson Locations: Israel, Brandenburg, Berlin, Germany, Palestinian, 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

The new legislation will limit the amount of cannabis young adults can buy to 30 grams a month, compared to 50 grams for older adults. Scholz's government had already watered down original plans to allow the widespread sale of cannabis in licensed shops after consultations with Brussels. Instead, it said would launch a pilot project for a small number of licensed shops in some regions to test the effects of a commercial supply chain of recreational cannabis over five years. Malta became the first European country to allow limited cultivation and possession of cannabis for personal use in late 2021. The legislation presented on Wednesday includes strict rules for growing weed - cannabis clubs of up to 500 associates must have burglar-proof doors and windows, with greenhouses fenced off.

Persons: Lisi Niesner, Chancellor Olaf Scholz, Karl Lauterbach, Lauterbach, Armin Schuster, Kristine Luetke, Sarah Marsh, Andreas Rinke, Angus MacSwan, Bernadette Baum Organizations: REUTERS, Rights, Scholz's Social Democrats, Free Democrats, Thomson Locations: Brandenburg, Berlin, Germany, Europe, Saxony, Brussels, Netherlands, Switzerland, Malta

Papperger said on Thursday that factory workers would build and repair Rheinmetall’s Fuchs armored personnel carrier — named after the German word for fox — under license in the facility. Rheinmetall (RNMBF) will operate the plant in partnership with Ukroboronprom, a Ukrainian state-owned defense group, which will also own the facility. Julian Stratenschulte/picture alliance/Getty ImagesFormer Russian President Dmitry Medvedev, a close ally of current President Vladimir Putin, has said Russia would retaliate by hitting any facility Rheinmetall set up in Ukraine, Reuters has reported. For now, Papperger said, sourcing more ammunition was a bigger priority than building more tanks. In theory, he added, Rheinmetall could provide 60% of the artillery ammunition Ukraine needs.

Persons: Armin Papperger, “, ”, Papperger, Rheinmetall’s Fuchs, ” Armin Papperger, reconditioned Marder, Julian Stratenschulte, Dmitry Medvedev, Vladimir Putin, didn’t, — Nadine Schmidt, Claudia Otto Organizations: London CNN, Rheinmetall, CNN, Rheinische Post, Ukroboronprom, Getty, Former, Reuters, NATO Locations: Berlin, London, Ukraine, Russia, Germany’s, Ukrainian, Lower Saxony, Germany, Former Russian, Russian, Europe

☆ Rheinmetall to boost propellant powder production by up to 600 tons per year, CEO says
▼ + stars: | 2023-06-16 | by ( Sabine Siebold | ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File PhotoBRUSSELS, June 16 (Reuters) - Rheinmetall will ramp up production of propellant powder for ammunition at its plant in the Bavarian town of Aschau by 500 to 600 metric tons per year, adding some 10% to its current global capacity of more than 6,000 tons, its CEO Armin Papperger said. Rheinmetall (RHMG.DE) has already kicked off an investment programme with this goal, Papperger told Reuters in an interview late on Thursday. "You can only do it if you have a very, very large order of, for example, 800,000 artillery shells," Papperger said. "This is not a situation we find ourselves in, which means we are finding other ways such as expanding our powder plant in Bavaria." In January, Papperger told Reuters that Rheinmetall was considering building a new powder plant, possibly in the eastern German state of Saxony, but that the investment of 700-800 million euros would have to be footed by the government in Berlin.

Persons: Fabian Bimmer, Armin Papperger, Papperger, Sabine Siebold, Conor Humphries Organizations: Lynx, Rheinmetall, REUTERS, Reuters, Thomson Locations: Unterluess, Germany, BRUSSELS, Bavarian, Aschau, Bavaria, Saxony, Berlin, Ukraine

☆ NATO pushes for common standards to tackle shortfalls in artillery munitions
▼ + stars: | 2023-06-13 | by ( Sabine Siebold | ) www.reuters.com time to read: +5 min

But the lack of common standards among the various manufacturers has hampered the flow of munitions supplies. It will take place on the sidelines of a NATO defence ministers' meeting in Brussels on Thursday and Friday. Demand for 155mm artillery rounds has soared in the wake of the invasion of Ukraine in February 2022. "If national governments could bring themselves to throw national standards over board and agree on common NATO standards – in particular with regard to munitions – this would be a landslide change," the defence source said. Before that many NATO countries had already run down their stocks as governments considered wars of attrition with big artillery battles a thing of the past.

Persons: Caesar, Jens Stoltenberg, KMW, Leonardo, Northrop, Abrams, Armin Papperger, Sabine Siebold, Gwladys Fouche, Angus MacSwan Organizations: Separate Artillery Brigade, REUTERS, NATO, BAE Systems, Turkish, Dynamics, Leopard, Lockheed, Northrop Grumman, British Storm Shadow, Rheinmetall, RND, Thomson Locations: Ukraine, Avdiivka, Donetsk region, BRUSSELS, Kyiv, NATO, Brussels, Kongsberg, Vilnius, Oslo

☆ Rheinmetall could be worth 17 billion euros over medium term, CEO says
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 10 (Reuters) - The CEO of Germany's largest defence contractor Rheinmetall (RHMG.DE) said he expected a further boost to the company's stock market value due to the Ukraine war and increased defence spending in Europe. "Our operating income in 2025 should be about 1.5 billion euros ($1.6 billion), maybe even 1.7 billion euros. "A valuation of 17 billion euros is realistic for Rheinmetall over the medium term," he added. Rheinmetall's current stock valuation is about 10.5 billion euros, on 2022 operating income of 754 million euros. The stock market value of the company, a maker of tanks, ammunition and other war equipment, has tripled since December 2021 and it joined Germany's blue-chip DAX (.GDAXI) index earlier this year.

Persons: Armin Papperger, DAX, Christian Kraemer, Holger Hansen, Sabine Siebold, Kirsti Knolle, Madeline Chambers Organizations: Rheinmetall, RND, Thomson Locations: BERLIN, Ukraine, Europe

☆ Rheinmetall and Ukraine's Ukroboronprom form JV to build, repair tanks
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

May 13 (Reuters) - Rheinmetall (RHMG.DE) has founded a joint venture with Ukrainian state-owned conglomerate Ukroboronprom to build and repair tanks in Ukraine, the company said on Saturday. Closing of the agreement to set up the joint venture is scheduled for late June with operations to begin from mid-July. The German company expects to sign contracts for two more joint ventures in the coming days for ammunition and air defence, according to Handelsblatt. Rheinmetall has ridden a rise in defence spending since Russia's invasion of Ukraine last year, with Germany also supplying aid and weapons to Kyiv. Rheinmetall makes ammunition and other military equipment as well as jointly producing the Leopard tanks that Germany is sending to Ukraine with Krauss-Maffei Wegmann.

☆ 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.

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