Rheinmetall Shares Reach New High On Plans For Ammunition Plant In Ukraine

One of the world’s largest producers of artillery and tank shells secured a joint venture with a Ukrainian partner to produce 155mm caliber bullets.

On Saturday, German defense company Rheinmetall announced it had signed a memorandum of understanding with an unnamed Ukrainian company at the Munich Security Conference.

The Mou was signed by Rheinmetall executives and Alexander Kamyshin, the Ukrainian Minister for Strategic Industries.

Rheinmetall will have a 51% stake in the new artillery ammunition factory, while the Ukranian partner will hold 49%. The factory will begin producing a “six-digit number of 155mm caliber bullets per year” in 2025, according to the defense firm.