Germany's Rheinmetall plans new munitions factory in Lithuania [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: Yahoo! Finance
The German defence contractor and the government of the Baltic EU and NATO member state signed a memorandum of understanding on Tuesday in the presence of the Lithuanian Prime Minister Ingrida Šimonyte, Economy Minister Aušrine Armonaite, and Defence Minister Laurynas Kasciunas. Details of the deal were not disclosed. Armonaite said Rheinmetall's investment will be the largest in the Lithuanian defence sector to date, and one of the largest in the country's history. "This will boost our industry, our economy and the security of our region," she said at the ceremony, which was broadcast live on Lithuanian television. "We are ready to continue working with the company to ensure that this success story moves forward quickly." Talks on an investment agreement are expected to begin soon, she added. Defence Minister Kasciunas emphasized that the production of ammunition in the country was one of the lessons of the war in Ukraine. "Independence from global supply chains and producti
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