RHEINMETALL: Open door, Ukraine

Rheinmetall has established a strategic partnership in the defense sector with the Ukrainian state conglomerate Ukroboronprom. The cooperation aims to strengthen Ukraine's defense industry base and ultimately the national security of the country by gradually developing joint capabilities in defense technology in Ukraine.

In the partnership, Ukraine benefits from comprehensive technology transfer, the establishment of its defense capacities in the country, additional local value creation, and additionally the short-term supply of military equipment from Germany.

A corresponding cooperation agreement has now been signed by representatives of both sides. As an entry into the cooperation, a joint venture is to be established in a first step - subject to the necessary regulatory approvals - which will bridge between Rheinmetall and the existing state defense industry of Ukraine. The closing is planned for the end of June 2023, and the joint venture is scheduled to be operational from mid-July 2023.

Rheinmetall CEO Armin Papperger: "At Rheinmetall, it is our central concern to support our Ukrainian partners in the fight for freedom and democracy and to meet their urgent needs as quickly as possible. Due to its expertise, Rheinmetall is able to be a valuable partner to Ukraine in the short and long term. We are pleased to have Ukroboronprom, under the leadership of Yuriy Husyev, as a very capable and trustworthy partner by our side."

Armin Papperger on Ukraine's defense efforts: "We are proud that Germany is doing everything to support the Ukrainian people - through humanitarian aid, financial support, and the delivery of military equipment. Rheinmetall is also closely connected to the German government to help as efficiently and quickly as possible. In times of change, we take responsibility by contributing our part to securing peace in Europe."

Yuriy Husyev, General Director of the state conglomerate Ukroboronprom: "I am honored to establish the joint venture between one of the world's leading defense industry manufacturers, Rheinmetall, and the significant Ukrainian defense producer Ukroboronprom. We are already working around the clock for victory - despite numerous Russian missile attacks, Ukroboronprom has been able to increase the production of military equipment and armored vehicles. With Rheinmetall by our side, we will be able to achieve even more for our country. We are grateful to Rheinmetall for being willing to help us against Russia's aggression. We will do our best to make this cooperation available for the defense forces of Ukraine as quickly as possible."

In a first joint step with Ukroboronprom, activities in the repair of military vehicles provided to Ukraine through barter projects of the German federal government as well as direct deliveries will form the basis of this cooperation.

In later phases, the cooperation will focus on a comprehensive technology transfer for the joint production of selected Rheinmetall products in Ukraine. In the future, in the course of cooperation between Rheinmetall and Ukroboronprom, new military systems will also be developed jointly and exported from Ukraine with the involvement of Ukrainian and German specialists.

About RHEINMETALL: Rheinmetall AG, based in Düsseldorf, is an integrated technology group. It is divided into five divisions: Vehicle Systems, Weapon and Ammunition, Electronic Solutions, Sensors and Actuators, and Materials and Trade. With around 28,000 employees at 132 locations worldwide, the company achieved a turnover of 6.4 billion EUR in 2022. Rheinmetall is a leading international system house in the defense industry and a driver of innovative technological and industrial innovations in civilian markets. Sustainability is an integral part of Rheinmetall's strategy.

About UKROBORONPROM: The state conglomerate Ukroboronprom is a Ukrainian state defense company with 65,000 employees engaged in various areas of defense system production - including the manufacture and maintenance of armored vehicles, missiles and artillery, radar, and aircraft construction. Since the early days of the war with Russia, the company has been supporting the military capabilities of the Ukrainian Armed Forces.