EU Grants Rheinmetall Over 130 Million Euros for Ammunition Production Expansion
German arms manufacturer Rheinmetall has secured a substantial financial boost from the European Union, receiving over 130 million euros to enhance its ammunition production capabilities. The funding is earmarked for the production of 155 mm ammunition and gunpowder, with projects set to take place in Germany, Hungary, Romania, and Spain.
Rheinmetall CEO Armin Papperger expressed the company's commitment to meeting the growing demand for artillery shells among European armed forces. He emphasized the importance of replenishing stocks to ensure military readiness and underscored Rheinmetall's role in addressing this need.
The investment comes at a time when Rheinmetall is also eyeing expansion in Ukraine, with plans to invest in multiple plants within the country. This move signifies the company's strategic approach to leveraging opportunities for growth and reinforcing its presence in key global markets.
The EU's decision to allocate significant funding to Rheinmetall reflects the importance of bolstering defense capabilities within Europe and supporting domestic arms manufacturers. As geopolitical tensions persist, the focus on ammunition production highlights the imperative of maintaining military preparedness and security.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
EU Agrees on Use of Frozen Russian Assets to Aid Ukraine
In a pivotal decision with far-reaching implications, European Union ambassadors have reached a consensus on the management of frozen Russian assets
Bulgaria Celebrates Europe Day
Today, the 9th of May, marks a significant occasion across Europe as nations come together to celebrate Europe Day
May 8th: Europe Marks Victory Day Over Nazi Germany
Across Europe, May 8th is celebrated as Victory Day, commemorating the Allied triumph over Nazi Germany in World War II
Sweden Ready for Eurovision Despite Protests and Security Measures
Swedish police assure that Eurovision fans need not be concerned about safety despite heightened tensions due to recent conflict in Gaza
Bulgaria Absent from Eurovision 2024 as Competition Kicks Off
The Eurovision Song Contest 2024 commenced with a grand opening ceremony in the picturesque Swedish city of Malmö, marking the start of the highly anticipated music extravaganza
European Nations on High Alert Amid Russian Sabotage Threats
European intelligence agencies are on high alert as they warn of potential aggressive actions by Russia, including bombings, sabotage, and infrastructure damage across the continent.