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☆ 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
☆ 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
☆ 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
☆ Tank maker Rheinmetall raises sales view as Ukraine war boosts demand
  + stars: | 2023-01-24 | by ( ) www.reuters.com   time to read: +3 min
Shares in Rheinmetall, which together with Krauss-Maffei Wegmann makes the Leopard tanks Germany is under pressure from Kyiv and some allies to send to Ukraine, have risen 170% in the past year. For 2022 the company expects sales of 6.5 billion euros. A company spokesperson told media group RND that it could deliver 139 Leopard tanks to Ukraine if needed. It could also supply 88 older Leopard 1 tanks, the spokesperson said, without giving a timeframe for potential delivery. It said positives, including mid-term defence spending, had been priced into the stock.
☆ Rheinmetall wins quarter-billion euro order for e-vehicle parts
  + stars: | 2023-01-02 | by ( ) www.reuters.com   time to read: 1 min
Jan 2 (Reuters) - Germany's Rheinmetall (RHMG.DE) has won an order worth more than a quarter billion euros in the electromobility segment, the industrial group said in a statement on Monday. Rheinmetall said it would be providing the new 900-volt generation of electrically powered vehicles with a new type of contactor to a premium German automaker. Contactors are electrically controlled switches that make it safe to turn electric vehicles on and off, said Rheinmetall. Starting in 2025, Rheinmetall will supply tens of millions of these contactors for the automaker's new vehicle platform, the company said. Reporting by Anastasiia Kozlova, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.
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