Rheinmetall to ramp up Baltic presence with Lithuania munitions plant [Yahoo! Finance]
RHEINMETALL AG UNSP/ADR (RNMBY)
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Source: Yahoo! Finance
The Lithuanian government and Rheinmetall have signed a memorandum of intent to build a 155mm ammunition plant in Lithuania, the country's Ministry of Economy and Innovation said in a statement on April 16. “This factory will be important for Lithuania, Ukraine and our entire region, in turn, the government will do everything so that it can start operating as soon as possible,” Lithuanian Prime Minister Ingrida Šimonyte said. The official warned that Russia would remain the “biggest threat to Europe” for decades to come. Lithuania's minister of economy and innovation, Aušrine Armonaite, said at a press conference that construction of the plant would begin later this year. According to the Lithuanian news network LRT, a state-owned piece of land in the northern part of the country has already been identified as a possible site. The plan to host Rheinmetall is part of a larger series of amendments by Lithuanian economic authorities to the regulations that govern major defense
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