Rheinmetall Moves Forward With Lithuanian Ammunition Plant [BNN Bloomberg (Canada)]
RHEINMETALL AG UNSP/ADR (RNMBY)
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rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: BNN Bloomberg
Rheinmetall's Maximilian Froch signed a letter of intent with the Lithuanian government in the capital, Vilnius, Tuesday to produce artillery rounds in the country. No further details were given on the partnership or the size of the investment. “All projects that strengthen the European defense industry, that expand its capacity, represent an important step forward,” Prime Minister Ingrida Simonyte told reporters. “I have no doubt this project will also significantly contribute to the European initiative for all us to feel safer, for our freedom to be better armed than tyrannies.” Lithuania is fast-tracking the entry of the German arms manufacturer, whose projects it deems to be a security guarantee in an increasingly challenging security environment. Lawmakers are also debating legal amendments that would allow the start to construction of a production facility before all permits are secured. That could allow building work to begin within some six months rather than the typical
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