Franco-German Shell Producer KNDS to Create Unit in Ukraine [BNN Bloomberg (Canada)]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: BNN Bloomberg
The Franco-German battle tank maker will create a unit in Ukraine to produce ammunition and spare parts for equipment sent by the two European neighbors, under an agreement reached Friday by German Defense Minister Boris Pistorius in talks with French counterpart Sebastien Lecornu in Berlin. “We, France and Germany, both want to help Ukraine to make the ammunition production there more self-sufficient,” Pistorius told reporters after the meeting. Lecornu said KNDS, which makes products including Caesar self-propelled howitzers, artillery systems and armored vehicles, “will take a foothold in Ukraine with a local unit.” He added: “The production of ammunition must move close to the front line, that will be very important for supplies.” French President Emmanuel Macron and German Chancellor Olaf Scholz pledged last week that they would start producing weapons inside Ukraine as they tried to move past concerns that their differences would hinder the bloc from mobilizing sufficient
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