Tag: ammunition

Rheinmetall Targets €50 Billion in Sales by 2030

(L-R) Boris Pistorius, Germany's Defence Minister, Armin Papperger, CEO of Rheinmetall AG, and Sébastien Lecornu, France's Defence Minister, stand in front of a Czech Leopard 2 A4 main battle tank during a visit to the Rheinmetall plant, amid the Franco-German MGCS tank project | File Photo: Michael Matthey/dpa

Rheinmetall aims to expand its annual turnover to around €50 billion by 2030, CEO Armin Papperger told analysts during the company’s Capital Markets Day in Unterlüss, with the German defence contractor experiencing a sharp rise in revenue since the war in Ukraine, driven by growing orders for artillery, ammunition, air defence systems and tanks.

U.S. announces $2.35B military aid for Ukraine

U.S. Army 1st Lt. Gerard Holodak, with the 17th Combat Sustainment Support Battalion (CSSB), fires an M136E1 AT4-CS confined space light anti-armour weapon at Joint Base Elmendorf-Richardson in Alaska on October 12, 2017 | Photo: U.S. Air Force photo by Staff Sgt. Westin Warburton

The latest round of military aid worth USD 150 million is the Biden administration’s 60th tranche of aid since August 2021, including artillery and ammunition from its own inventories, in addition to purchases of air defence systems worth USD 2.2 billion for Ukraine.