The German arms manufacturer Rheinmetall $RHM (+2.95%) and the US company Lockheed Martin $LMT (+0.51%) have agreed to expand their cooperation and extended a memorandum of understanding signed in 2024.
The two arms companies will set up a so-called "Center of Excellence" under the leadership of Rheinmetall, which will manufacture rockets and missiles and operate in Germany and other European countries, it was reported.
"Rheinmetall will not only be involved in sales, but will also make a significant contribution to production," said CEO Armin Papperger in a statement.
Source: finanzen.net
