The German concern Rheinmetall received more than €130 million from the European Union to increase ammunition production.
This was reported in Rheinmetall.
The funds came under the Ammunition Support Act (ASAP). It was passed last summer to speed up the delivery of ammunition and missiles to Ukraine and help EU member states replenish their arsenals. Rheinmetall said that more than a quarter of the total amount of €500 million will go to the production of 155 mm artillery ammunition and gunpowder.
The money will go to six projects of Rheinmetall subsidiaries in Germany, Hungary, Romania and Spain.
"We are grateful to the European Union for trusting us. Artillery plays an important role in Ukraineʼs struggle to defend its country. European armed forces also need replenishment. We are ready for this and are already working on it," the defense concern noted.
Rheinmetall is expanding its production capacity from 2022. The company aims to produce up to 1.1 million artillery shells annually by 2027. In addition, from 2026, it is planned to produce up to 1.5 million fuel modules and 3,000 tons of RDX explosives annually.
- Rheinmetall is a German defense concern, one of the largest manufacturers of military equipment and weapons in Germany and Europe. The concern produces, in particular, Panther, Leopard tanks, Marder BMPs and PzH 2000 howitzers.
- Rheinmetall also plans to launch the production of ammunition and armored vehicles in Ukraine as early as 2024 — the first to build Fuchs armored personnel carriers and Lynx BMPs.