Today’s the day: Ukraine's Minister of Strategic Industries Oleksandr Kamyshin said German Chancellor Olaf Scholz and Ukrainian Prime Minister Denys Shmyhal will today formally announce a new joint defense project between Rheinmetall and Ukroboronprom, Ukraine’s state-owned defense company, covering armored vehicles.
The announcement will happen during the German-Ukrainian Business Forum in Berlin.
Ukraine’s aim to become Europe’s arsenal
EUROPE’S ARMS MAKER: Amid sustained war at home and boiling conflict in the Middle East, Kyiv doesn’t just want to keep gobbling up arms and aid from Western allies. It wants defense contractors to invest locally and help build out a modern arms industry, amid a horrific live business case, the country’s Minister of Strategic Industries Oleksandr Kamyshin told Playbook in an interview in Berlin.
Shifting production: “The free world should be producing enough to protect itself,” Kamyshin told us, adding that the way to do that is to ramp up output and shift production to where it’s needed — close to the front lines. The plan is to get major defense players, such as Germany’s Rheinmetall, to sign joint venture deals as a foil to the kind of agreements Russia is signing with the likes of Iran and North Korea to feed its army.
Demand is there: Kyiv wants to focus on armored vehicles, ammunition and drones, Kamyshin said, with a view to producing for the long term. “What happens in Israel now shows and proves that the defense industry globally is a destination for investments for decades,” he said, adding that even if the war ends tomorrow, Russia can “come back always.” Find the full story from myself and Caleb Larson here.
Shifting production: “The free world should be producing enough to protect itself,” Kamyshin told us, adding that the way to do that is to ramp up output and shift production to where it’s needed — close to the front lines. The plan is to get major defense players, such as Germany’s Rheinmetall, to sign joint venture deals as a foil to the kind of agreements Russia is signing with the likes of Iran and North Korea to feed its army.
Demand is there: Kyiv wants to focus on armored vehicles, ammunition and drones, Kamyshin said, with a view to producing for the long term. “What happens in Israel now shows and proves that the defense industry globally is a destination for investments for decades,” he said, adding that even if the war ends tomorrow, Russia can “come back always.” Find the full story from myself and Caleb Larson here.
Rheinmetall, Ukraine's Arms Maker Set Up Joint Venture
By Mauro Orru
Germany's Rheinmetall and Ukraine's state-owned Ukrainian Defense Industry, formerly known as Ukroboronprom, have set up a joint venture company in Kyiv for the maintenance and production of military vehicles.
- Rheinmetall owns 51% of the Rheinmetall Ukrainian Defense Industry joint venture, which began operations last week.
- Ukrainian Defense Industry controls the remaining 49% of the company.
- The German arms maker outlined a deal to establish the joint venture in May, in a move aimed at strengthening Ukraine's domestic defense industry.
- The joint venture will initially provide maintenance services for military vehicles, though cooperation will also extend to the production of selected Rheinmetall products in Ukraine.
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